What specifically are the tax benefits/liabilities of selling real estate either before or after retirement?
Tuesday, den 26. July 2011Dave asked: I heard it would be more beneficial to sell real estate before I retire as opposed to after. What do I stand to gain, or what do I stand to lose if I keep the property and sell it after I retire?Jacksonville Beach Fl Real Estate
United States
What docs does my accountant need for rental real estate at tax time?
Wednesday, den 13. April 2011K.Ro asked: It will be my first time claiming my home as rental real estate when I do my 2009 taxes. I will be using Schedule E. I know I need to bring records of expenses and also what I’ve profited from rent, but what other documents do I need to have ready for the [...]
United States
Can I claim the real estate tax that was paid through my closing costs?
Tuesday, den 5. April 2011JG asked: I just bought a house in August. And was filing my 2009 taxes and was wondering if I was able to claim my real estate taxes (property taxes, winter and summer) that were paid by me from the closing costs. http://www.irs.gov/pub/irs-pdf/p530.pdf According to this I can, but this is for 2008 returns.Superfoods
United States
How do you calculate real estate tax savings?
Monday, den 7. March 2011kurt_belisle asked: My goal is to find the impact of my real estate interest deduction against my federal income tax return in real dollars?Wooden Swing Set
United States
I’m a 2nd year real estate agent, how much is a reasonable amount in business expense write offs?
Friday, den 11. February 2011mcurry81 asked: I’ve made less this year than last in my real estate business because the market is really bad right now. I have much more in business expenses though. I don’t want to be audited, just wondering if anyone out there with experience knows what a reasonable amount in expenses for just having one [...]
United States
How can taxes you pay on real estate benefit your income tax return?
Thursday, den 10. February 2011ocman21 asked: I’m doing a project for my business class, and I need lots of informations on this question. Also I have another question: What type of taxes do you have to pay on real estate?Chula Vista Real Estate
United States
How do you know if you can claim Real Estate Professional?
Sunday, den 23. January 2011Jenga asked: I don’t want to get audited by the IRS but I hear that Real Estate Professional – non passive activity is a big issue – can you tell me what the IRS will question and look for if I claim Real Estate Professional, do they require anything when you are audited? Please advise. [...]
United States
If I claim to be a real estate professional for tax purposes, is my income subject to FICA?
Tuesday, den 18. January 2011capn bob asked: I qualify as a real estate professional for tax purposes. I own and manage over 25 rental properties. I have not claimed that status in the past. I have recently married and my husband has retirement and investment income in excess of the maximum income amount allowed under the passive activity rules. [...]
United States
How do deduct real estate taxes on 1040a?
Friday, den 24. December 2010petersruby20 asked: I purchased a home in October, 2007. My monthly mortgage payment includes my county, state, and school taxes (they are placed in Escrow). Apparently my tax payments will be paid out of escrow in April, May and August of 2008. Does that mean that I can not claim real estate for my 2007 [...]
United States
Can I deduct real estate taxes in NY from more than one home on my federal tax return?
Saturday, den 18. December 2010Albert T asked: I bought a new house and havent sold the first one yet? Can i deduct mortgage interest from both? What about real estate taxes? Both houses are in NY city.Flathead Lake Real Estate
United States
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