Phil M.
Investment Property Tax Deduction Scenerio
So, my parent's are going in on a multifamily investment property (Non owner occupied). Now, there will likely be vacancy for a few months they clean up the property and look for suitable tenants. Their only other inc...
Patrick Q.
Bonus Depreciation Year One Question
Hello all,Purchased a house hack duplex this year and am in the process of doing my taxes (with a CPA) for 2021.We are living on one half and the 2nd half has tenants renting it.Trying to clarify/get 2nd opinion on a ...
Jephte Augustin
Short-term rental tax deductions and their impact on W-2 income
I'm in the process of converting my garage to rent out as a short-term rental.I want to know if I decided to take advantage of the deduction to offset my w-2 taxes, whether I would get a refund from the IRS.ExampleAss...
Bo Goebel
Tax Deductions in Syndications
If you buy into a large syndication, are you offered all applicable tax deductions in a prorated way? E.g. you invest $10,000 into an apartment complex that cost 5 mil. You have 1% equity on the property. Are you goin...
Jonathan Paz
Disposing 1031 Exchange Property Question
Hello, I am trying to get an idea for the tax consequences I would face by selling a property that I acquired via 1031 exchange. Here is the background:*I purchased Property A on Feb 2016 for $109K with cash, rented ...
Justin Cummings
BRRRR exit strategy or next steps?
Does anybody have an exit strategy for BRRRR setups?In the 2010s we did the BRRRR thing not even knowing that the acronym existed and now we're are in a good, but complicated situation.- The commercial mortgages (all ...
Dina Harleth
Calculating capital gains on sale of gifted house?
Hi everyone,
I'm contemplating selling a house that was gifted to me by my father while he was still alive. I'm trying to calculate what I'd net from the sale of the property (to make a comparison between sel...
Jason Braud
LLC Personal Loan Tax Treatment (Interest vs Dividends)
Have a tax question. Starting a new real estate LLC where one partner brings majority of upfront capital to the venture for down payment on first property. In a bid to keep the ownership in the LLC at 50/50, would l...
Momk M.
Is this deal feasible?
Property is 220,000Its a 4 unit in Trenton which is being totally gutted as part of the deal. All 4 units must be occupied at time of closing as well. Insurance $125.00 Interest on loan(s) Land ...
Roger Skove
First time tax question
So my business partner and I bought a house to flip in October of 2017 and plan for it to be ready for sale spring 2018. My accountant wants me to claim a loss on my 2017 ret then I’ll basically have to buy another pr...