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I am 42 and a california resident in the top income bracket.
I am 42 and a california resident in the top income bracket. Recently I have sold some stock and sold an sf rental that I am attempting to 1031 in a southern california property. In the movements I wo… read more
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I am buying my next door neighbor's house for my parents. I
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Chad, I have a question relating to how the new tax law
Chad, I have a question relating to how the new tax law effects mortgage interest deductions.I currently own a home that i do not have a 1st mortgage on, but i do have a Heloc that has a 200,000 balan… read more
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I have a client who is coming to get a loan on a vacation
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I own my rental property free and clear. I would like to
I own my rental property free and clear. I would like to take out a loan on it and use the proceeds to pay off my primary home's mortgage where I live full time. Would the mortgage interest on the ren… read more
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My question concerns the tracing of interest expense
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Is mortgage interest a write off for cash out refinance (primary
Is mortgage interest a write off for cash out refinance (primary home) when the cashout is used to pay off a mortgage on an investment property?… read more
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I have a rental property which has equity.I would like to refinance
I have a rental property which has equity.I would like to refinance this rental property and use the money from the refinance to buy a principal residence and pay off the mortgage on my current princi… read more
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Please could you confirm that I wont have a negative tax consequence
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jgordosea
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I currently own a home but for various reasons am considering
I currently own a home but for various reasons am considering renting it out and moving the family to a rental for 12 months. I understand that mortgage interest can be applied as a deduction to the r… read more
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Would like to work with BK-CPA. Refinance interest inquire I
Would like to work with BK-CPA. Refinance interest inquire? I bought Real-estate investment property for 300K few years back. Financed the debt on 250K, Deducted the mortgage interest on schedule E. F… read more
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I would like to know if I take out a home equity loan secured
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If I refinance my home & plan to rent it (not my primary residence)
If I refinance my home & plan to rent it (not my primary residence) in January 2010; can I still write off the interest that I pay on the loan?… read more
Lev
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Hello, several years ago I placed a new $240,000 mortgage
Hello, several years ago I placed a new $240,000 mortgage on a rental property I own, and paid of the existing $60,000 mortgage, leaving me with $180,000 to invest in other real estate. I put the $180… read more
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I own a business which I am wondering if I can purchase a home
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I am refinacing a rental house that is paid off. I plan to
I am refinacing a rental house that is paid off. I plan to use most of the cash to build another unit on the same lot. It will take about 4 months to build. When that unit is rented can I then deduct … read more
jgordosea
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no you need to report cashout as taxes if you retired.
re refinanced and took a cashout. We collect rent on the one property and my fathers lives in the other. all transactions were under my father. We took out 200,000 and used 80000 for the new house. li… read more
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I live in NY, and I baught a rental property in 1998 for ...
I live in NY, and I baught a rental property in 1998 for 78,000 and refinance in Dec of 2006. It apprasised at $210,000. I took a lot of equity to pay off debt and repair my primary residence. I now h… read more
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