Account Closed
How Does a Trust Move to another State?
A revocable estate planning trust is now irrevocable after grantor passes away. Trust holds several tax sheltered accounts (IRA, 401k). Successor trustee wants to minimize taxes upon distribution of these tax shelte...
Matthew Davis
Determining Primary Residence for Refinance
My wife and I recently got married in February and we are in the process of joining our lives together financially. We both currently own our own homes and are in the process of determining which house we should claim...
Vlad-Stefan Marcu
Tax Deductions for a Live in Flip
Hi all,I am planning on purchasing a SFR with the intention of living in it for 2-3 years, making upgrades, and selling when I move out. Would this be considered an investment property where I can deduct depreciation...
Alexander Fichel
2 out of 5 year ownership requirement
I've searched this forum and googled and checked irs.gov, and still fail to understand this requirement about ownership. Everyone seems to ask questions about the residence requirement which I get. You have to live th...
Michael Medaglia
Proving “Use” Requirement for Full Exclusion of Gain
My wife and I are approaching 2 years of ownership and use of our only home as our primary residence in which case we should qualify for full $500 exclusion of capital gains upon sale. The problem is she is not on the...
Mohamed Nagoor
Determining rent for primary residence used for LLC
Hello BP Team,How do you determine the rent for a primary residence used also for an LLC? Also is it mandatory for the owner of the LLC (also owns the residence) to submit a 1099 to IRS for the rents paid or is it suf...
Joseph Davis
Determine cost basis on primary residence turned into a rental
Given that you can depreciate a residential property over 27.5 years - if we buy a new home & turn our old primary residence into a rental - does the depreciation start from the date the home is turned into a rent...
Chris Robinson
How to determine CoC return on rental of my primary residence.
I am brand new to the world of real estate investing and and am not sure how to calcuate the CoC return if i decide to rent out my primary residence. If I were simply purchasing an investment property I would calcula...
James N.
Avoiding taxable gain by living in property 2 of last 5 years
Hello BP,I have a condo I lived in for about 2 1/2 years as my primary residence, then I leased it out for about 2 1/2 years. I'm looking to sell and avoid taxable gain. I'm trying to determine exactly what day I have...
Colleen White
Anyone know what this means?
Can anyone read the sale history of this property and explain it to me?
Current Ownership (01/24/2011)
Date First Seen As Owner
01/24/2011
Document Number
112989
Sale Amount
$61,000
Sale Date
01/24/2011
Reco...