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• 1. K

     Using carryover capital loss on real estate gains (less than 1 year ownership)

     If you sold the properties after 13 months of ownership, the proceeds would be considered long-term capital gains. In this case, you may have used both short-term and long-term carry-over capital losses to offset your long-term capital gains, subject to the tax laws.

     • kimcara94
     • Post #3
     • Mar 5, 2024
     • Forum: Tax Law
  2. K

     Pre-sell condotel units before acquiring or purchasing existing motel

     Embarking on a condotel venture requires a meticulous legal approach. Consult with a real estate attorney to draft a comprehensive agreement outlining terms, conditions, and timelines for pre-sales. Clearly define the location details, providing as much information as possible without...

     • kimcara94
     • Post #22
     • Feb 14, 2024
     • Forum: Other Real Estate Law Questions
  3. K

     How to expunge a 16 year old felony?

     The process of expunging or sealing a criminal record can vary depending on the jurisdiction. In Illinois, where Chicago is located, there is a process for expungement or sealing of records. However, it's essential to consult with a legal professional or use resources specific to your situation...

     • kimcara94
     • Post #4
     • Feb 14, 2024
     • Forum: Other Crimes – Federal and State
  4. K

     Motel question.

     Paying for a motel for a friend for two days doesn't automatically make you legally responsible if they refuse to leave after. However, local laws and motel policies may apply.

     • kimcara94
     • Post #5
     • Feb 14, 2024
     • Forum: Landlord / Tenant Issues
  5. K

     Do I need to wait for a business license before I can start working as self-employed on OPT?

     I am not a lawyer, but I can offer some general information that might help guide your decision. It's crucial to consult with a legal professional for advice tailored to your specific situation. When you are on OPT (Optional Practical Training), you are allowed to work for an employer in your...

     • kimcara94
     • Post #4
     • Feb 14, 2024
     • Forum: Starting and Operating a Business
  6. K

     Question about child support

     In New York, child support is not solely determined by the custody arrangement but is influenced by various factors. While a 50/50 custody arrangement may impact the child support calculation, other factors such as the income of both parents, health care expenses, and child care costs are also...

     • kimcara94
     • Post #9
     • Feb 5, 2024
     • Forum: Child Custody & Visitation