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I love it !

በአማርኛ ቢታደርግልን።

STRs are depreciated over 39 years

The losses from a short term rental used also 50/50 for personal use are limited to passive activity loss limits, right?

you need to start doing visual videos

can you do a video where 1 property sold in exchange for 2 other properties. 2nd closed in January of new year all timing rules have been met.

*promosm* 🙋

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Very helpful video! How would you file a 8824 form if you sold one rental single family home and acquired two rental single family homes? And paid some amount of money out of pocket for the second home? Thanks

How would you apply depreciation to two rental properties that were gained through 1031 exchange?

You bought a building Dec 15. 2023, can you do the PAD for tax year 2024?

This is excellent. Thank for clearing that up. Apparently the "Line 18: Adjusted basis of property given up" is not just the original adjusted basis before the sale, but also after the sale, including everything thrown into the deal to make it work.

Thanks very value information

Why no one explains 1031 when there are multiple properties involved.

'PromoSM' 🤤

What if you exchanged 1 property for 3 more? Do you fill out a form for each acquired property or all combined ?

This is why the govt should file taxes and send you the ammount. The people who can make the effort to deduct their taxes the most are ironically those who need the money the least

And this is the problem…taxes should be collected to run the government and not a tool to manipulate behavior in a “free” society.

Sir, how is an 8824 form filled out when exchanging 2 properties for one? Thank you in advance.

This was very well done and presented, Ryan, Thank you!

Great Help and example

I have a client that sold one property and xchanging it to multiple properties. Can you do a video of how to report that?

If the improvements are done in the year the property is placed in service..does it qualify for PAD

Excellent video, explained clearly what I need to know, thank you very much!

is there a way to get a copy of your power point for reference?

In addition, your general rule 4562 seems off. Looks like you didnt depreciate the relinquished property basis on the existing life left (27.5 less 2.5 yrs of past property) , you left it at 27.5 . should be 104,919 at ~25 yrs left ? The new basis of 100K is 27.5 . ammortization amounts seem off also. pro-rata from 10/31/21 is 61 days. yours seem to calculate different.

Confused as to what is meant by Fair market value (FMV). How does this relate to the value (HUD1 cost) of when I bought the property, sold the property and replaced with new property (replacement) costs. Costs vs Values is confusing. Example: Bought 5 years ago for 200K, (160K plus 40k land). depreciation to date of sale is 30K. Had a loan on it for 150k. Sold property for 300K, expense of sale of 20k. paid off loan at sale and was left with 145K that went to the intermediary. Bought replacement property at 325K plus 5k for closing costs. For ease, lets say no loan on new property and came cash to close with difference. (330K less 145K intermediary = 185K cash). How would this basic scenario work out with reporting on 8824 re: FMV's ?

How do you depreciate the second property if you sold vacant land and replaced it with land with a house?

Great video! Just one question, do you not carryover the accumulated depreciation from the relinquished property?

Thanks for the explanation. Does anyone know if Turbo Tax makes this easy?

Thank you for the excellent help. The clarification is just amazing!

Thanks so much for the video. It was very helpful. Question: Is line 16 FMV of property received supposed to be the list price of the property or list price minus closing cost?

Thanks for this video. It is very helpful. I'm a non-resident, and I have passive activity loss from a residential rental property. I have a net loss this year from the residential rental, and I have no active income that I can offset the passive loss from so I cannot use the passive activity loss to offset anything this year. I am filling out the Schedule E and the form 8582 manually. How do I carryover this suspended unused passive activity loss to a future year? Should I just put the net passive loss on line 1d, line 3, and line 11 on form 8582?

Thanks for the information. Sir, sold one property and took multiple properties in exchange Please do a video on it.

I have a question about Line 15, if the property that the Client gives up had a mortgage would that be included on that line since the other party will be taking over that mortgage?

I just spent 14 hours trying to figure this out. Then i found your video. You are amazing!

Great vid, but you did not mention any affect of having a Real Estate Professional status which would have bigger and better results with more loss allowances...Yes..?

Very helpful breakdown, thanks

Thank you! Great presentation - I knew what the gain and basis should be, just couldn't get the reporting correctly... a new, fresh angle was what I needed! Tax software was not helpful!

Ｐｒⓞм𝕠𝕤𝐌 👉

How does the closing costs for selling the property given up affect the calculations?

Thank you for this

here is the link to the sample company cash flow statement: drive.google.com/file/d/1oVP636laZBusqKepzTlAOYngPRxB_Hdu/view?usp=sharing and to the income statement: drive.google.com/file/d/1j-F7YjqiBvVqcRWHyVVga0-zhbx95aQi/view?usp=sharing and balance sheet: drive.google.com/file/d/1xgrCadqAKRCQXVetw7KlB6KcQcgU3TDl/view?usp=sharing

Thanks for the great video. I would like to get clarification on one scenario. I am single and have owned one rental property for over 15 years. I have accumulated carry forward passive losses of 126k. I was not able to claim any of our passive losses due to income exceeding $150K annually when I was working. I have recently retired and now my income can be less than 100k. My question is: Can I now deduct up to 25k each year from both current and past carry forward passive losses as long as my income is below $100K annually?

This is extremely valuable content, Ryan! Would you be willing to post it to the Nomad Network?

At around 6.14 minutes, In worksheet 5 (Allocation of unhallowed loses), when you multiply 5857 in column a with ratio of 0.16553615 in column b, you get $970. But you show in column $891. Can you clarify?

Hello.. If i have net rental income loss -3k on my K1 partnership, where do i put that on the schedule E? please advice.. thanks!

Is there a video explaining line 28 g and h ? First year getting some k-1's and not sure how to report it since the k1 booklet is confusing.

When I do the schedule E and I have a LLC I put the income on the 8995 with my ein?

Hi - I'm a non-resident alien and own a rental property in Florida. Because I don't have income in USA, all my passive losses seem to become allowable on 8582, but I can't use them as I have no income in USA. I assume that it's better to have them as unallowable so I can use them when I start making an income from the property, which I think I may nthis year. What am I doing wrong on sch 8582?