Matt N.
Cash out refi - interest tracing rules
Hi! I was reading about the interest tracing rules and it seems like if I do a cash out refi (even on a primary residence) and then put that cash in a separate investment banking account, I can begin writing off inter...
Matt N.
Cash Out Refi Tax Write Off
Question: I am taking out a cash out refi on my condo that I had originally paid in all cash. I've read that the interest from the cash out refi mortgage is NOT tax deductible UNLESS it is used for improvements for th...
Todd W
back property taxes
Hello,
Looking for the best way to approach a "back property taxes" issue with a property. Has anyone had any luck talking to property tax departments and trying to negotiate it down? Giving them the "instead of letti...
Patrick Donovan
IRA questions
So I have a Roth IRA that I opened in 2012 before I knew I wanted to invest in real estate. I am wondering, since I would like to invest as much as possible in real estate, is there a minimum that I have to contribute...
Axel Lafortune
Negative Cash Flow VS Equity Accumulation & Tax Benefits ?
I'm in a Hot Market with high prices where Cash Flowing properties are rare (Montreal, Canada)
Would you be willing to take a deal with negative cash flow for the first 5 years (2-5K $ per year) if it offers:
Apprec...
Shera Gregory
Partnering with contractor to better use SDIRA funds
I want to be able to do a rehab/flip with my $43k Roth IRA that is in an LLC. The problem I see is that I can't be sure how much the rehab will really cost and it is not likely that I can find a non-recourse loan.
...
Laniece Miller
Performing versus non-performing
I'm just now starting to do my homework into notes, so apologies for such a basic question. From what I've read, buying a performing note from somewhere like PRR is very different than buying non-performing note and t...
Russell Ferance
sale of rental property
I have owned my rental property for 22 years and recently sold it. I'm doing my taxes and realize that I need to calculate my depreciation over those 22 years. However I don't have my tax records that go back that fa...
Art Webb
Understanding IRS Net Operating Loss Carry Over for Rental Losses
I getting ready to sell a rental house which has accumulated a significant amount of Net Operating Loss over the past 20 years. I understand I can use this NOL to reduce my personal taxable income. Question: Can I ...
Ryan Pyle
Accounting for asset disposal - do I have to recapture depreciation?
When accounting for the disposal of an asset, I'm not sure what to do with the accumulated depreciation and book value of the asset. For example, I replaced the carpet in one of my apartment units. The asset was on th...