4 November 2025 | 17 replies
Quote from @Mary Jay: @Mary Jay While I can’t tell you exactly how much your tax will be, I can help clarify how the gain is generally calculated.When you sell a rental property, your taxable gain is based on the difference between your sale price and your adjusted basis; not on how much you owe on the mortgages.Your adjusted basis starts with your purchase price, plus certain closing costs (if they weren’t deducted previously), plus the cost of any capital improvements you’ve made over the years (like renovations or additions).The gain is your sale price minus that adjusted basis.From that gain, you’ll also have depreciation recapture, meaning the total depreciation you’ve taken (or should have taken) while the property was a rental is taxed separately.
30 October 2025 | 10 replies
Quote from @Mike Dymski: This is amazingly helpful, we are quickly adding units and we are also paying a lot in fees for bank account additions for ACH adding for each owner.
11 November 2025 | 1 reply
That can make it an efficient way to access equity without triggering capital gains or additional tax reporting.
5 November 2025 | 2 replies
I currently have a HELOC that is in payoff locked in at 3% for the next 25 years for about $44K, but it's preventing me from accessing $450K in additional equity. by the time I save that amount I want to buy a property.
13 November 2025 | 2 replies
However, they couldn't provide any additional details.
10 November 2025 | 9 replies
If it's not clear what I am asking, please let me know and I will try to clarify.Here's additional info about our situation.Operators: 2 member LLC.
12 November 2025 | 14 replies
., additional deductions) is case dependent, but segregation typically provides benefit compared to not segregating.You can generally apply bonus depreciation, but the phase-outs apply (don't seem applicable here given the years placed in service).Tax positioning is also relevant here.
5 November 2025 | 26 replies
Using just addition and subtraction to sort out an algebra problem will always leave a person confused and frustrated.
10 November 2025 | 4 replies
@Brandi Smith, Here is a decent one from oklahoma.govhttps://oklahoma.gov/content/dam/ok/en/orec/documents/contra...It has a section for additional conditions so be sure to add anything specific to your propertyBe Well!
10 November 2025 | 2 replies
My plan is to run some wholesale and fix/flips to begin and eventually open my own shop and hire some additional agents at that point, but that's still a few years out.