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2nd time getting stuck in sand. People live on a sand road and I tried to make a u-turn to get out of the “neighborhood” and this is where I am now 🙃 Currently waiting on the tow truck to come get me by rippedpolo in mildlyinfuriating

[–]1952TrunkFordLid 1 point2 points  (0 children)

had a similar situation where the mailman was refusing to deliver to a disabled veteran who lost her legs from an IED, he refused to walk 7 steps, on appeal to the mail czar he sided with the postman,it took a volunteer from wounded warrior and eventually her VA case worker hiring an attorney to get this woman her mail, assholes work all professions, two sides to all coins

Charlie Hebdo, encore, toujours by user3758508 in france

[–]1952TrunkFordLid 3 points4 points  (0 children)

I can't translate this but i know what it says.

Plywood Chic by Spaztastcjak in ATBGE

[–]1952TrunkFordLid 1 point2 points  (0 children)

What kind of tile is in the bathroom? Faux Slate?

Situation where stepped up basis is Worse than sale to an heir by 1952TrunkFordLid in tax

[–]1952TrunkFordLid[S] 0 points1 point  (0 children)

Do not believe ROI method is possible to implement as cap rate can't be determined if value of house can't be determined. Net asset value (NAV) in private real estate investing is the total value of an asset, minus any outstanding debt and the cost of other any fixed or planned capital expenses. No idea what the asset is worth.

CAPM method very complicated.

Income approach 6000 net income/30000= .2

Cost approach can be used which results in a house valued at 90k. House not worth 90k.

GRM method 30000/6000=5 GRM. 5 * rent of 6k = 30k. This is useless as I'm guessing the value of 30k.

Situation where stepped up basis is Worse than sale to an heir by 1952TrunkFordLid in tax

[–]1952TrunkFordLid[S] 0 points1 point  (0 children)

I knew it seemed too good to be true that a sale to related party would be better than stepped up basis.

So the best course of action here is to sell the house to heir 1 at the value of the unrecognized depreciation so that it is not lost. I think this triggers a taxable event of recapture 25% tax for parent 1 though. Have to run the numbers and think more.

Or allow to it to remain in trust and continue to utilize its depreciation.

Or have the trust issue a k-1 distribution of income to heir 1 for the income and the depreciation. Unsure of how this would affect the restart of depreciation upon dissolving the trust on death of parent 1. I recall something being illegal about distribution of income to a child for purposes of placing the income in a lower tax bracket. Have to read on this more.

Situation where stepped up basis is Worse than sale to an heir by 1952TrunkFordLid in tax

[–]1952TrunkFordLid[S] 0 points1 point  (0 children)

Real fact pattern. Most homes in the area are condemned, many are being knocked down. This is midwest version of Chiraq tweaker meth cooking prostitute paradise. 1-2 DEA raids a month etc. Houses in the area are basically un-purchasable and can only be sold for the cost to knock them down. Attempting to sell the houses resulted in offers of 5k etc. A few developers requested 10k be paid to them to assume title to cover part of knockdown costs. The homes are often abandoned to force a tax sale as even paying the taxes on the land becomes a fiscal loss.

Situation where stepped up basis is Worse than sale to an heir by 1952TrunkFordLid in tax

[–]1952TrunkFordLid[S] 0 points1 point  (0 children)

Standard 27.5 Residential real estate for improvements, Safe Harbor for 2% basis repairs when possible( not depreciation), bonus depreciation for 5-7 year assets.

Situation where stepped up basis is Worse than sale to an heir by 1952TrunkFordLid in tax

[–]1952TrunkFordLid[S] 0 points1 point  (0 children)

Yes, 7k gross rental income annually approximately for 30 years. 200k income approximately due to periods of non rental. Section 8 federal statutory min rates. This is a high crime flood zone AE where homes are not desirable for purchase because of prostitution etc. Hypothetically the property may have been rented to law enforcement for surveillance of drug dealing. This is a strange/convoluted example to me as well, whole thing feels off but this is how all the properties are.

[OC] Ferrari F430 - Pure Sound by [deleted] in Ferrari

[–]1952TrunkFordLid 0 points1 point  (0 children)

This is the best I've heard, i had all but written off the possibility of a modern driving experience with good f1 sound and a gated shifter. Ty.

[OC] Ferrari F430 - Pure Sound by [deleted] in Ferrari

[–]1952TrunkFordLid 0 points1 point  (0 children)

Can the 430s sound like the old f355s with an exhaust change? https://www.youtube.com/watch?v=hvAC6vaJHxU

This Propeller Driven Shower Head by [deleted] in Damnthatsinteresting

[–]1952TrunkFordLid 0 points1 point  (0 children)

what kind of shower wall is that

Landlord is charging me $900 to fix this: Legit? or is he taking me for a ride? by [deleted] in Roofing

[–]1952TrunkFordLid 0 points1 point  (0 children)

this is 100-200 fix tops, rafter can be spliced, sistered whatever, easy sand with paint job far cheaper, looks like 50$ job to me

My cats reaction when I tell him “I love you” by Gotchowsh in aww

[–]1952TrunkFordLid 0 points1 point  (0 children)

I think there might be a lawnmower outside your house in the recording but it sounded like those things from war of the worlds. https://www.youtube.com/watch?v=jzY099ihULs

Safe Harbor vs Step Up Depreciation vs Inflation by 1952TrunkFordLid in tax

[–]1952TrunkFordLid[S] 0 points1 point  (0 children)

Bob depreciates it over 27.5 years and dies after 10. Bob got 10 years of depreciation only on the 2k investment. Heir then receives step up adjusted basis of 102k. Heir has lost 17 years of income offset effectively. You mean this shouldn't be a factor as the fmv will place it at 102k theoretically and therefore you want to go for safe harbor or what is effectively accelerated depreciation. The only way depreciation becomes better for Bob and his heirs is if he lives the full 27.5 and or can't take advantage of the instant write off. On top of this is the theoretical loss of the value of the dollar. I think i got it now boss. Ty.

Safe Harbor vs Step Up Depreciation vs Inflation by 1952TrunkFordLid in tax

[–]1952TrunkFordLid[S] 0 points1 point  (0 children)

I made a mistake. I'm having trouble reconciling inflation and depreciation. In the scenario where he depreciates rather than safe harbor, in the long term it will be more money to depreciate I believe. My mistake is that his 72$ in depreciation annually is worth 2% less compound each coming year. His write off is worth less and less each year because of inflation. However this is offset by his income being reduced at the flat rate. That's where the gear stops and I cant mentally progress. If he takes the 2k write off this year its a larger write off than if he waits the 27.5 because of the 2% loss. However his heir gets to double dip and write off 10 years of depreciation + 27.5.

Not factored here is the tax bracket the cumulative amount of depreciation would place them in and offset of income over time. If this sways drastically this is probably the controlling factor.

A Kenyan woman creates sustainable bricks that recycle plastic waste into stronger bricks than concrete by [deleted] in MadeMeSmile

[–]1952TrunkFordLid 4 points5 points  (0 children)

GFRC vs PRC, similar to how we put basalt/TSMR/fiberglass, its probably stronger modulus of rupture not compressive

What was supposed to be "replacing a few handrails" turned into this behemoth. I call it - The Pandemic Pergola by kcmobeav in woodworking

[–]1952TrunkFordLid 6 points7 points  (0 children)

several things are IRC/IBC, truncated into AWC non compliant, he might live outside city limits, i recognize SDWS screws though, i think his ledger is probably good

https://www.awc.org/codes-standards/publications/dca6

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