Jason & Kim Rickman were there and I sat next to them
DeWayne Crop – had 23 years of experience; 20 rentals, 10 unit apartment
ERIN LONG BERGESON was the guest speaker on Taxes for Real Estate
spoke on cost segmentation analysis
depr is over 27.5 years; Depreation house capture
passive activity losses
there is a $125,000 married threshold – suspended losses and move forward
cant take when you sale it
if > 50% of time mat’l partilizaion
Real Estate Professional Designation – 750 hours/ property if each seperate on schedule E
Entities – single member LLC – dsregarded to the IRS
Partnerships is most common Real Estate because kids step up in basis
When you or your spouse dies, make sure you get an apprasial of real estate
“installment sale” – deprecriation recapture – interest income only pay Capital Gains on profit percentage – have to pay depretiation recapture tax year 1 – down payment must be enough – 23% of what they paid for it
~31.5% federal and state tax combined
20 year ammortization with 5 year balloon
make the deposit be the capital gains taxes
