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long term and short term gains and losses
2 interesting points 1) if your participation is passive, you are more likely to be considered an investor as opposed to a dealer 2) if you hold it more than a year, you are safe from being a dealer, and can claim it as capital gains. -
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long term and short term gains and losses
i am trying to make a little extra money, help keep people employed, and help the surrounding area. but i do not want to have it that involving on my tax return. i am certainly not gonna set up a special corporation. if it becomes that involving, i simply wont do it at all - and return to... -
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long term and short term gains and losses
also, i dont do any of the work. irregardless of how many properties i may get in the future, the following will not change. my realtor finds a property for me. i buy it through an escrow that she establishes. she does all the leg work, in terms of dealing with the contractors, etc. if she... -
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long term and short term gains and losses
if it turns out that you guys think i am running a business instead of having investments, would that change if i kept each place for a full year, before i sold it ? even rented it out for a short time ? -
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long term and short term gains and losses
at this point, i have purchased 3 inexpensive properties (roughly all close to the same time frame). i just got the first one listed, and the other 2 will probably be ready in 1 month, and 2 months. -
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long term and short term gains and losses
if i was in your office, i would not have thought of it as a business, though. i do own rentals, and other things. so with the remainder of the money, i was thinking i was making investments, not running a business. but that was just my own take, not necessarily how the irs would qualify it... -
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long term and short term gains and losses
i did think that because it was a capital asset, it qualified for long and short term gains, though so if i am wrong about that, i do need to know -
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long term and short term gains and losses
hey guys, i did not mean to start world war 3. this is the first time i have flipped any houses. so whether i do it on a continual basis, depends on how successful i am, compared to the risk and reward that i am taking. i was at least hoping to make it some sort of consistent thing i do, to... -
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long term and short term gains and losses
great, i will go with that plan !! -
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long term and short term gains and losses
thanks tm, that works out well, for me - just what i was hoping. (if i understood you correctly). i knew about the 3000 limit. i still havent used all of that from my capital loss schedule. it keeps going down 3000 each year. but i am probably gonna lose 75K more on this property. and... -
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long term and short term gains and losses
california. i am hopefully gonna sell a property this year, in which i will be taking a loss (long-term). i will also hopefully be able to sell some flippers this year, for short term gains. how does this work ? i do all my taxes with taxslayer, so i am not concerned about doing it... -
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Beneficiary assignment in a living trust and do you have to list the assets of a trust in the trust document
personally, i would try to keep my trust distributions as simple as possible if i am going to give friends some money, i would either give it to them outright, while i am alive, but knowing that i dont have much time left or simply open up bank accounts with them as the beneficiary. and then...- TrustUser
- Post #7
- Forum: Wills, Trusts and Estate Planning
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Trust question
i just wonder if any of the trustees have any connection to yale university ??- TrustUser
- Post #20
- Forum: Wills, Trusts and Estate Planning
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Trust question
you may have already said this, but do you have a copy of the trust ? what distributions are supposed to be ? who all the beneficiaries are ? etc. ?- TrustUser
- Post #17
- Forum: Wills, Trusts and Estate Planning
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Trust question
it doesnt seem normal to me that the distribution amount is so small, compared to the worth of the trust ?- TrustUser
- Post #14
- Forum: Wills, Trusts and Estate Planning
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Beneficiary assignment in a living trust and do you have to list the assets of a trust in the trust document
for a titled asset (real estate, bank account, brokerage account, etc.) to be a part of a trust, said asset needs to be titled in the trust. you can place personal assets in your trust, as well. i dont know specifically about nolo, but most people do not leave their assets to individual...- TrustUser
- Post #3
- Forum: Wills, Trusts and Estate Planning
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Family trust 2 grantors/settlors
LOL - i only work with credit unions, have several of them- TrustUser
- Post #17
- Forum: Wills, Trusts and Estate Planning
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Family trust 2 grantors/settlors
LOL - that is why i asked about it - all i know about louisiana trust law is that i dont want to know about it !! i havent banked at a bank in a long, long time- TrustUser
- Post #15
- Forum: Wills, Trusts and Estate Planning
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Family trust 2 grantors/settlors
hi tm, have you ever been involved with a bank insisting on an ein for a revocable trust ? if so, was it in louisiana ?- TrustUser
- Post #13
- Forum: Wills, Trusts and Estate Planning
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Family trust 2 grantors/settlors
i am glad that your situation is a good one. most situations are. it is just that 99% of the ones that come on here arent so good !!- TrustUser
- Post #11
- Forum: Wills, Trusts and Estate Planning
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