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Passive loss carryovers in oregon. 33 and yes. Married
married filing jointly. in 2017 we moved to WA from OR and had a rental property in OR and for 2017-2020 we had passive losses that had to be deferred because of income limit. in 2020 we sold the rental property and I know that these losses can now be utilized as the sale qualified, but am trying to figure out how this works in OR since we don't have any OR income in the year, just the recognition of the deferred passive losses. … read more
JeffS6413
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I did a 1031 exchange in 2003 and then sold the second property in 2019. I'm trying to figure out if I have to put the reported deferred gain from Form 8824 in 2003 somewhere on my 2019 taxes? … read more
PDtax
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I NEED assistance about the 1031 likekind exchange. Not yet.
i NEED assistance about the 1031 likekind exchange … read more
R. Klein, EA
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I have one primary home and one residential rental house in
I have one primary home and one residential rental house in FL. Last year I sold rental property and there was a gain. Do I have to pay tax on the gain?… read more
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A commercial building is being sold. If the closing happens
A commercial building is being sold. If the closing happens in early January of next year, will the seller have to recapture a whole new year of depreciation, ie 2020, or is it prorated by the number … read more
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I have tax questions. I want my LLC partnership, (my share
I have tax questions.I want my LLC partnership, (my share of the property and the operating cash), to be held in my revocable trust after my death.My daughter is one of the 2 beneficiaries and is succ… read more
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We sold our rental property for $650k and want to do a 1031
we sold our rental property for $650k and want to do a 1031 exchange with the proceeds. However we do not qualify for that much debt...just qualify for $375k. Should we go ahead and do an exchange any… read more
Chad EA, CDFA®, CFP®
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I am a CPA. My client owned section 8 housing since Sept
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I sold a small business after operating it for 35 years I
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Robin D.
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an individual was forced to sell some rental property by the
an individual was forced to sell some rental property by the city utility company. Are there any special rules concerning the recognition of gain on sale of rental property that was taken by imninent … read more
Stephen G.
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Dear Tax Professional, I have a residential home located
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Lane
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My trustee wants to end his duty as trustee for my moms trust.
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rramsook
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My mother formed an irrevocable Famity Trust when my father
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The IRS is sending me letters saying I owe more money. I ...
The IRS is sending me letters saying I owe more money. I filed a 4797 for a rental property sold. The form was correct after your help. But they say I still have to file a schedule D. Is this correct?… read more
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I had some vacant investment property I wanted to sell so I ...
I had some vacant investment property I wanted to sell so I could purchase a different real estate investment. I was orginally thinking of a Starker exchange but not sure that is applicalble. I purcha… read more
Sandi Hargrove, SkyHawks
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I am asking this regarding a secondary house that was ...
I am asking this regarding a secondary house that was sold in 2006. It was initially bought for $69,000.00 and sold for $230,000. This house was not my primary residence. How is the capital gains figu… read more
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Roll-over of Cap Gains on Rental Property to Home Improvements
I sold a rental home in 2004 resulting in a capital gain of approx $60K. This is my only rental property- which I owned for 20 years. Is it possible to roll-over the gain into improvements on my curre… read more
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