Andreas W.
H&R Block or Turbo Tax for small scale landlord?
I do have professional help but I also want to do my own tax calculations this year. As a landlord with only a few self managed properties, I put my hands on an H&R Block version recommended for rental properties....
Matt Pfefferlen
Property Tax Prior to Trustee Sale
Hi- I purchased a house at a trustee sale in September in California. Property tax is current through June. I assume the bank needs to pay the amount accrued up until the trustee deed being filed. Is that right? ...
Patrick Thomas Dickinson
Capital gains paid to irs
Quick question, I’m in California and will have a sizable, capital gains tax bill owed to the IRS and the state of California in the near future. my question is how quickly does the capital gains tax liability need to...
Ryan Mertz
Short sale question
If some one were to pay the back taxes on a house that is listed as a short sale what could possibly occur?
I found a house that is listed as a short sale. Did some due dilligence and the home owner owes 2009 taxes.
...
Russell Pitts
Looking for experienced deal analyzers for this property.. Help!
Hi all, I'm close to pulling the trigger on this property in Chicago. I'm going through a turnkey provider. The renovation has already been done and the property will be tenanted with a section 8 tenant. I have a bu...
John Woodrich
State Tax Deed and prior liens
I am purchasing my first tax foreclosed property and the county I am purchasing it wanted to make sure I knew that I was getting a tax deed from the state and not a warranty deed. She didn't really know what that mea...
Paul A.
Taxes not paid prior to purchase
Hello All,I purchased my first rental property last June. Taxes are due twice a year here, and I just found out that the taxes were not paid on this property that were due in April 14. This was before I closed on the ...
Denayer Burns
Acquiring a Property Prior to Tax Sale
I'm looking to approach a few property owners whose property will go up for auction at the next tax sale. I want to try to work out a deal with the owner prior to the property going to auction. Any suggestions on ho...
Leon Chappell
Taxes on a Flip Bought prior year.
Hey, Lets say I bought a flip in 2018 for $100,000 and I sold it in 2019 for $150,000. Do I deduct the $100,000 purchase expense on my 2018 taxes or my 2019 taxes? If its the 2019 taxes, will I be taxed on the full 15...
Mateo Way
Tax debt pay off prior to closing
Hea BP Forums!I have found myself in a bit of a pickle.My wife and I have a property under contract for 345k with 20k in seller credits at closing, funded with a FHA loan. We passed inspection with only some minor pai...