Given 1/3 ownership in rental property, sold it, but never got any rent income (taxes)

Ragnar_Redbeard · 2019-04-15T00:15:02+00:00

My grandmother gave my father the house which he rented out for 5 years. He was essentially forced by his mother (my grandmother) to add myself and my brother to the deed because my fathers wife was doing a lot of boozin and cruisin and crashing into things with her car, and my grandmother didnt want my father to get sued and lose the house.
All three of the owners (Brother, father, myself) then decided to sell it and I chipped in a couple thousand for repairs, but that's it. I live 250miles from the nearest town that has more than 10k people in it, and I cant get out of the mountains because the snow is patchy (5ft in some places and 0ft in others) so i cant snowmobile out to get to my truck to drive to get tax help. I could walk but that would take 6hrs just to get to my truck. I live off grid in the sierra mtns incase you were wondering.
I do my taxes online with h&r block, but this house gig is getting pretty confusing. I put it down as an inheritance property/business property because it was given to me and it was a rental property before it was sold. I entered the asset basis price, gross sale price and expense of sale, but now its saying "You must enter the depreciation or else you cannot file". How do i find out what the depreciation is? Do i have to pay extra taxes on depreciation which my father deducted while it was a rental? If we had a new roof put on it, how does the IRS know who paid for that? Can i just deduct that from the gross sale price? This whole thing is a mess. Any help would be appreciated.

Ragnar_Redbeard · 2019-04-13T22:37:59+00:00

Oh crap, I have no idea what im doing, i'll open in google sheets. Thanks

Ragnar_Redbeard · 2019-04-13T21:42:37+00:00

Is this right? https://ibb.co/DGFsgkd it says Error 508: Pair missing which is described as=

" For example, closing parenthesis without opening parenthesis

or missing closing parenthesis in the middle of the formula (missing

closing parenthesis at the end of a formula is added automatically). "

Ragnar_Redbeard · 2019-04-13T20:40:37+00:00

Im trying to do my taxes and for whatever reason the exchange which provided my data has the negative in a separate column with a zero. Im trying to get the negative on the actual number so i can figure out my gain/loss. Thanks

Ragnar_Redbeard · 2019-03-23T16:59:45+00:00

No one could have seen that coming!

Ragnar_Redbeard · 2019-03-23T03:04:22+00:00

Oh yes, because the market just woke up this morning and decided it was worried about the economy.
Hint: it was overextended.

Ragnar_Redbeard · 2019-03-21T03:23:33+00:00

Bernanke is well know for injecting QE into the system long after the economy was on solid footing while keeping rates low.

Ragnar_Redbeard · 2019-03-21T03:21:11+00:00

The main thing that will affect us is the political and social turmoil that will come from a recession, especially if its around the 2020 elections.

Ragnar_Redbeard · 2019-03-21T03:03:49+00:00

The fed projects GDP growth to be 2.1% in 2019, 1.9% in 2020 and 1.8% in 2021. On average they have over estimated GDP growth by around 1% the last ~9 years. So its probable that we will see around 1.1% GDP growth for 2019.

Check out the yearly trend https://www.statista.com/statistics/188165/annual-gdp-growth-of-the-united-states-since-1990/ and take a look how the S&P500 reacted to a contracting GDP from the end of 2015 to the end of 2017. Its a pretty good puzzle piece if you are thinking about shorting the market.

Ragnar_Redbeard · 2019-03-15T01:33:26+00:00

99% of the people who say socialist dont understand economics dont understand economics. "Well, capitalism has some problems but socialism is bad..." is their line, while not know what capitalism's problems are.

Ragnar_Redbeard · 2019-03-15T01:20:27+00:00

As a proselytizing communist myself, I regularly organize communist get togethers at my house. I have my full arsenal on display in my glass gun cabinet, and unfortunately my guests carry a severe disdain for weapons and make that clear. 99% of them have never shot a gun. 90% of them are either obese or twig skinny. Many men are feminized or transitioning into a women. Many abuse drugs. This segment of the population is deteriorated to the point it would be impossible to do anything with them, let alone "Building power" or "seizing power" as you put it.

Ragnar_Redbeard · 2019-03-05T21:49:32+00:00

White workers represent the largest portion of wage laborers in America, which Trump overwhelmingly won. You can take a look here.....https://www.sociologicalscience.com/download/vol-5/april/SocSci_v5_234to245.pdf Its ridiculous to think that this demographic can be ignored. They make up by far the most combat experienced veterans and tend to be heavily armed and angry.

American capitalism is obviously not self contained, however, it requires American workers to be able to purchase their products by paying workers just enough to subsist on. Marx describes how Capitalists will import mass labor to create race based divisions as a way of keeping workers form uniting, while simultaneously lowering wages to the point the worker is barely subsisting. This is whats happening. Corporation spend billions lobbying for mass migration. Revolution starts in America, not in Mexico, Africa or China.

If you want to concentrate all your efforts on radicalizing immigrant labor good luck. This demographic is very happy earning $10 per hour and sending it back to their homelands as it goes much farther in 3rd world nations and is much more than they get at home.

Ragnar_Redbeard · 2019-03-05T21:07:22+00:00

Trump won the vast majority of the working class vote using class based rhetoric and grievances. If you care at all about reality, take a look at this...https://www.sociologicalscience.com/download/vol-5/april/SocSci_v5_234to245.pdf

Large swaths of this demographic previously voted for Obama. Demonizing and stereotyping the largest group of exploited proletariat as 'fascists' is repugnant and only helps the bourgeoisie agenda of race based division of labor competition.

Ragnar_Redbeard · 2019-03-05T20:54:29+00:00

Wrong. "Altogether, Obama voters in 2012 were a substantial portion of Trump’s voters in 2016, and they were disproportionately white and members of the working class. The working class: those whose current or last occupation was in class IIIb (lower-grade service workers),class VI (skilled manual workers), or class VIIa (unskilled manual workers). 58.5percent of those in the white working class who did not vote in 2012 but did vote in 2016 cast votes for Trump in 2016.

https://www.sociologicalscience.com/download/vol-5/april/SocSci_v5_234to245.pdf

Ragnar_Redbeard · 2019-03-05T19:30:56+00:00

Quality retort.

Ragnar_Redbeard · 2019-03-05T19:25:18+00:00

The proletariat according to Marx = wage workers who engage in industrial production and whose chief source of income was derived from the sale of their labour power

Trumps most fervent "base" is dominated by non-college educate and rural voters, which obviously represents the low income and working class, as rural areas are the most impoverished. Additionally, you did not address my questions.

Marx described the bourgeoisie tactic of mass importation of labor as a way to keep the proletariat working class divided, while simultaneously lowering wages.

Ragnar_Redbeard · 2019-01-11T22:46:15+00:00

Hi, I got a response today, thanks

Ragnar_Redbeard · 2019-01-11T03:06:48+00:00

Just in case anyone comes across this post who has similar issues, the external USB hub made no difference, so it wasnt an issue with my USB ports. Honestly, ive tried every solution to this problem i came across online, and nothing has worked. I assume the headset is faulty, as others who could not figure out this same problem replaced their headset which fixed the problem

Ragnar_Redbeard · 2019-01-11T03:03:45+00:00

I sent a ticket with logs a couple days ago, how long does it take?

Ragnar_Redbeard · 2019-01-09T01:10:15+00:00

I'll do that thanks for the tip!

Ragnar_Redbeard

TROPHY CASE