Favorite team:	LSU
Location:
Biography:
Interests:	Sports, Politics
Occupation:
Number of Posts:	300
Registered on:	8/15/2007
Online Status:	Not Online

re: Is anyone here an expert on depreciation of rental property after it's sold?

Posted by Gutterman81 on 2/15/17 at 2:18 pm

Thanks, I'll check out the 1031. Looks complicated. Involving 3rd parties. ...

Money Talk

Jump to Post View Topic

re: Is anyone here an expert on depreciation of rental property after it's sold?

Posted by Gutterman81 on 2/15/17 at 10:17 am

I did have an appraisal done when I bought it. So I will use that value as the basis. If/when I ever sell this property (as long as it's below 200k) I should only be tax liable for the depreciated amount (25% taxed) and not any equity correct? (since it was inherited)...

Money Talk

Jump to Post View Topic

re: Is anyone here an expert on depreciation of rental property after it's sold?

Posted by Gutterman81 on 2/15/17 at 6:01 am

What if your original half was inherited? Never been a rental before. Bought out the other half then turned into a rental. Is my basis for depreciation 200k or 100k? Also when it was inherited the asset was valued at 200k, so is this even a taxable asset since it's inherited property and not worth ...

Money Talk

Jump to Post View Topic

re: Is anyone here an expert on depreciation of rental property after it's sold?

Posted by Gutterman81 on 2/14/17 at 11:09 am

What is your basis if you owned half of a property then bought the other person out of their half? Say the house is worth 200k, you paid 100k for the partners half. Then turn it into a rental. What is your basis for depreciation purposes?...

Money Talk

Jump to Post View Topic

re: LSU v. Florida Game is cancelled. "Postponed"

Posted by Gutterman81 on 10/6/16 at 7:56 pm

Coach o needs to bitch slap Foley [link=(http://www.foxnews.com/sports/2016/10/06/hurricane-matthew-forces-postponement-lsu-florida-football-game-other-sporting-events-in-jeopardy.html)]foxnews[/link] Florida athletic director Jeremy Foley said LSU had offered to host the No. 18 Gators in ...

Tiger Rant

Jump to Post View Topic

re: Life Insurance questions

Posted by Gutterman81 on 9/29/16 at 6:27 am

Friend of mine used to work for nwm...the love them some whole life...

Money Talk

Jump to Post View Topic

re: Life Insurance questions

Posted by Gutterman81 on 9/29/16 at 6:16 am

Wife's 37, it's actually 29.56 per month for 1 million, 15 year. Went to Zander and banner happened to be the cheapest for US. There were alot more companies to pick from with similar prices. Banner was really easy. A phone interview. Then lady came to my house and took blood and urine samples. The...

Money Talk

Jump to Post View Topic

re: Life Insurance questions

Posted by Gutterman81 on 9/28/16 at 9:27 pm

I got a million through banner...shopped with Zander. 28 a month. 15 year. Yes, get it while she's young...

Money Talk

Jump to Post View Topic

re: Police released video of the fatal shooting of unarmed black man in Oklahoma

Posted by Gutterman81 on 9/20/16 at 5:50 pm

Obviously this guy was in his right mind...If my vehicle gives me trouble I make sure I park it directly over the double yellow lines, leave it running, and promptly locate my mechanic....on foot. :banghead: ...

O-T Lounge

Jump to Post View Topic

re: Things that young kids do that tick you off

Posted by Gutterman81 on 8/25/16 at 9:07 pm

Drinking all of my coffee so he can game all night ...

O-T Lounge

Jump to Post View Topic

re: Flood Insurance Fraud Story-You aren't going to believe this one.

Posted by Gutterman81 on 8/22/16 at 7:56 pm

[quote]payment would/should have been collected at closing, they could have had the app with mortgagee listed and all but obviously mess ups happened as if Flood app was in place, [b]notices would have went out to all when cancelled.[/b][/quote] this...

Money Talk

Jump to Post View Topic

re: My dad tells me the adjuster said not

Posted by Gutterman81 on 8/19/16 at 8:09 pm

[quote]Seems reasonable to me, let the people that will write a check do their job. I get the impatience and want/need to get moving, but I don't see a problem with the insurance company wanting to do its own assessment.[/quote] You're either: A. An adjuster B. Didn't flood C. Both A and B...

O-T Lounge

Jump to Post View Topic

re: My dad tells me the adjuster said not

Posted by Gutterman81 on 8/19/16 at 8:04 pm

I could understand if this disaster was isolated and the adjuster could be there in a day or two....but no time frame for him to show up. ...

O-T Lounge

Jump to Post View Topic

My dad tells me the adjuster said not

Posted by Gutterman81 on 8/19/16 at 7:59 pm

to remove cabinets in his home until he takes a look at them. Any other adjusters say the same thing? I don't get this, meanwhile mold is growing.......

O-T Lounge

Jump to Post View Topic

Steps for reconstructing home after flood....

Posted by Gutterman81 on 8/16/16 at 6:54 pm

With lots of people without flood insurance what construction steps should I take if I want to do the work myself. Got 3ft of water in my house. Figuring on ripping drywall and insulation 1ft above floodline. Removing doors, trim, flooring. Any recommended chemical solution? Should I replace wiring ...

O-T Lounge

Jump to Post View Topic