Berridge Thomas
Consolidating IRA funds
Hello all! I am in the process of searching for a rental property and am getting my finances in order to be able to make cash offers. I have an IRA account from an old job. I no longer contribute to the account, so it...
Mayur Gaitonde
Tax deduction on syndication investment forclosure
Hello I am new here and looking for advice. Couple of the syndication deals I had invested in passively and have been foreclosed on by the lender. I have lost 100% of the investment amount. I was wondering if there a...
G F
Taxes and Foreclosures? HELP!!
Hi all,
I am hoping someone can help me understand something regarding foreclosures. About a year ago, my sister and brother in-law just walked away from their house on Long Island, NY (Suffolk County). They, like ...
Horacio Gutierrez
First position and second position to foreclosure
Hello,Say there is a first note and second note on a home if they buyer gets foreclosure by the first position what happens to second position loan does he get paid by the loaner in the first position if there is equi...
Evan Loader
Offsetting passive gain on K-1 with passive losses from other K-1
My CPA firm is preparing my 2021 taxes, this is my 2nd year using them and I haven't had any notable issues until now. I invest significantly in syndication deals so I have a handful of K-1s from multiple states. I ge...
Mike Shahi
New construction/capital gains/death of parent- need tax advice
Hope all is well. My parents own a home in MD and owe about 500k on it. As is, the home can sell for 1.1/1.2. The home was purchased in 2008 for 700k. Mom passed away last year unexpectedly. Now, Dad and I are trying ...
Alex Vick
Pre-Foreclosure Question Help
Hello all,I'm a new real estate agent and I have a question. A coworker of mine knows a lady that is currently renting a house upstate. She is not the owner of the home but she's the person living in the home paying r...
Charlie Moore
Are Most CPA’s educated on RE TAX LAWS!?
Looking to understand all my tax responsibilities when I complete 3 FLIPS this upcoming year. 2020 year. Someone link me... or drop a name thanks
Jonathan Garrett
I Have A Deal In Pittsburgh, Pennsylvania But I'm Struggling!
Hello BiggerPocket family! My name is Jonathan Garrett and I have been marketing to get leads and convert them into deals. I just really shook off my sickness of "analysis paralysis" and jumped all in. I got a deal un...
Jack B.
Washington State Real Estate Excise Tax exemptions?
Has anyone read through the RCW to find the exemptions or otherwise found an article that lists the exemptions? From what I see foreclosure, transfer to family members under specific circumstances and transfers of "de...