Wifes house been rented by her mother for last 5 years. My name is not on the deed. She pays enough to cover mortgage, taxes plus 5% for maintenance.
Question,
Can I claim rental income so I can benefit after 2...
I wonder:
1. If the money I pay for tax lien is tax deductible. Is it still tax?
2. If I pay subtax the next year, is it tax deductible?
Thanks.
Some feedback please.
I am in the initial stages of refinancing my existing primary home mortgage and loc.
Lender verbally asked for gross income, current debt , home value info, etc. Numbers and credit were ok. Got a...
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I formed an LLC last year (I'm the sole member) and bought a multi-family home in philadelphia. It is currently being rehabbed and I haven't rented it out yet.
I wasn't going to file any tax forms for my LLC becaus...
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Hey guys,
I have a two part question
1. Is passive income not taxed because it isn't earned income??? Or why is it tax free?
2. If you have a rental that is producing passive income. And you sell it, do you owe tax...
If do a brrrr deal and all goes well, and I do a refinancing, will the money I pull back out of the house be considered income and taxable?
Order I need torun it througha 1031 exchange?