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Tax implications for landlords ???

By FNWGMOBDVZXDNW following x   2017 Dec 20, 6:20am 1,018 views   8 comments   watch   sfw   quote     share    


Put articles on tax implications for landlords here. We can catalog the changes at the top.

I did some searching this morning, and saw lots of interesting possibilities in articles written over the last month or two. However, the House and Senate bills were different, and changes keep getting made.

#housing
1   Tenpoundbass   ignore (10)   2017 Dec 20, 6:39am   ↑ like (3)   ↓ dislike (3)   quote        

We need a Federal Property tax on all 2nd+ Single Family homes
and a Rental unit tax on every single family home over the second one
Yes especially the Coporate SFH rental companies.
No such taxes on multifamily buildings.
2   anonymous   ignore (null)   2017 Dec 20, 7:35am   ↑ like (0)   ↓ dislike (0)   quote        

Tenpoundbass says
We need a Federal Property tax on all 2nd+ Single Family homes

Good luck with that. I expect treats for landlords. One such treat that I read about was the ability to take depreciation on property, then pass that property on to children tax free. The basis is reset with no tax on the income. So, basically free depreciation for landlords. Also, landlords holding rental properties in LLCs get 25% tax. There may be a benefit to holding in a c-corp, which would only pay 20% tax on profits.
3   lostand confused   ignore (0)   2017 Dec 20, 8:10am   ↑ like (0)   ↓ dislike (1)   quote        

I was interested in the same, as I have now become a landlord-egads. 2018 will be the first tax return as a landlord, so don't have an apples to apples comparison.

If you declare yourself an s-corp do you get the 20% tax rate :)

or if you are a pass through business, do you get the 25% tax rate.

Do any of you landlords, after deducting all expenses be impacted by the new changes. I am keeping a decent mortgage for the tax -I am interested too.
4   anonymous   ignore (null)   2017 Dec 20, 9:35am   ↑ like (0)   ↓ dislike (0)   quote        

S-corps get to choose between getting taxed as a parnership or as a corp. The 20% has a downside of double taxation.
5   HEYYOU   ignore (17)   2017 Dec 20, 9:47am   ↑ like (0)   ↓ dislike (0)   quote        

Tenpoundbass says
We need a Federal Property tax


SOCIALIST!
6   anonymous   ignore (null)   2017 Dec 20, 12:04pm   ↑ like (0)   ↓ dislike (0)   quote        

i went with appreciation so i only get money from the IRS every year not paying them a dime.
7   bob2356   ignore (1)   2017 Dec 20, 1:07pm   ↑ like (0)   ↓ dislike (0)   quote        

anon_61c8a says

Good luck with that. I expect treats for landlords. One such treat that I read about was the ability to take depreciation on property, then pass that property on to children tax free. The basis is reset with no tax on the income. So, basically free depreciation for landlords


That's the way it has always been. The basis is reset in inheritance. The capital gains and depreciation disappear and you start depreciating again on the new basis. That was one of the big reasons for an estate tax in the first place. To collect untaxed capital gains.
8   bob2356   ignore (1)   2017 Dec 20, 1:16pm   ↑ like (0)   ↓ dislike (0)   quote        

lostand confused says

or if you are a pass through business, do you get the 25% tax rate.


Looks like no. The pass through gets a 20% income tax deduction it seems.




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