Nathan H.
Question about Carryover Basis
Can anyone tell me if carryover basis restarts at 27.5 years in a 1031x, or is it excess basis at 27.5 and carryover picking up where it left off? Having trouble finding the answer. Any help is very much appreciated!
Michinori Kaneko
1231 Loss and 1031 Gains
Hi BP Team,Hoping there is a tax professional out there that can address my question. I recently realized a significant 1231 loss. I understand there is a 5 year carry over on this so if i realize any gains those ga...
Daria B.
Depreciation (rental and flooring) - selling rental
HiIn selling a rental property I know anything that was being depreciated is subject to recapture.My question is, if I spent $7k in 2019 on flooring that is depreciated over the years of 2020-2023, and I sell in 2024,...
Phillip Gainey
Christmas is a discriminatory holiday!
Take Rudolph, for instance. He was discriminated against simply because of the color of his nose!
Luckily, Santa has an affirmative action program in place. Then again, the main reason he used Rudolph was because h...
Shanequa J.
Housing market pre bubble
What was the housing market like before the bubble? I've been going to RE meetings and all you hear is "Houston is hot. There's only 2.6 months of inventory; home prices rose 10% for 2 straight years". I didn't fol...
Dustin Nygard
Filing taxes with a rental property in the back yard
Hi everyone. There are two houses on my property. The main house is 1600 sq ft that my family lives in and the house in the backyard is 800 sq ft and is rented out. We have put a lot of money into our property since b...
Olga Kostrova
Need help with comping
Guys,Could you please guide me to a better comping formula?It's easier to comp properties with some parameters similar, like the same number of bedrooms, but different number of bathrooms, or bathrooms number increase...
Bernard Sanga
Property tax write offs - need help
I bought my primary residence last year and was not able to take any deductions. My accountant says going for itemized deductions did not make sense in my case because I will get a higher deduction on standardized. I ...
Steve Rory
Favorite Carpet for Durability/Longevity/Comfort/Aesthetics?
Have you found a favorite brand and line of carpet (or a few) that blend all those attributes?
Would like to have a standardized carpet for replacements...don't have one now.
Thanks!
Brandis O'Neal
New to Being a Landlord
I just recently leased by small condo and I'm looking to keep cost down for maintenance and repairs.