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Tax Tuesdays
Tax Tuesdays Episode 95: Real Estate Losses

Toby Mathis and Jeff Webb of Anderson Advisors don’t get paid to answer your questions on Tax Tuesdays. They just want to give back by making sure you don’t overpay on your taxes. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.


  • What’s the best way to transfer a title in real estate without increasing property taxes after a joint tenant dies? This shouldn’t trigger an increase in property values; publish certified death certificate to warranty deed it into your own name
  • My S Corp will only make about $20,000 this year. Do I still have to pay myself a salary? It depends; you didn’t make a profit, but did you make any distributions
  • Where do I put real estate professional on my return? Real estate professional is an election you make every year; it’s not a form, it’s a statement included with your 1040
  • When can I legally take money from a 403(b) and transfer to a QRP? Most plans won’t let you withdraw/take money out, if you’re still employed, except in hardship cases; roll to QRP anytime plan documents allow it
  • What is different about filing taxes for options traders as opposed to stock traders? Not much difference; short selling works differently for stocks and options
  • Can a husband and wife filing jointly take two separate Roth IRAs and contribute to each IRA annually? You can’t share an IRA; you must have separate IRA accounts
  • How does real estate profession benefit me? Real estate profession allows you to deduct all real estate losses against your personal taxes
  • Can an individual place Bitcoin in a Roth IRA account? Yes, if plan documents allow it
  • Can I pay my life insurance or family dental insurance from my LLC? Can LLC fund my HSA? LLC is not a tax treatment, so determine what it is and if it’s taxable to you
  • I learned that a property I bought and rehabbed is in an opportunity zone. Can I retroactively qualify for tax advantages from an opportunity zone? No, the fund must be set up before the purchase
  • Is there still a mileage deduction, if I drive my personal vehicle for my business? Yes, your personal vehicle for your business gets $0.58 a mile
  • Is the mileage and unreimbursed employee expense no longer deductible? Correct, miscellaneous itemized deductions under the Tax Cut and Jobs Act were removed
  • How do we navigate the standard deduction in the business sector? There’s no standard deduction on any business return

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Franchise Tax Board of California v. Hyatt – SCOTUS

Family Owned Non-Corporate Entity (FONCE)

Roth IRAs

501(c)(3) Nonprofit/Charitable Organizations


199-A Dividends

IRA Club

Schedule A

Schedule C

Schedule E

1031 Exchange

Types of Trusts

Tax Cutting Jobs Act (TCJA)

Tax Cuts and Jobs Act, Provision 11011 Section 199A – Qualified Business Income Deduction FAQs

Opportunity Zones FAQ

Opportunity Zone Heat Map

Bonus Depreciation

Form 1065



Garn-St. Germain Act

A10 Capital


TD Ameritrade

SALT Limit

Uniform Gift to Minors Act (UGMA)

Section 121 Exclusion

Section 179 Deduction

As always, take advantage of our free educational content and every other Tuesday we have Toby’s Tax Tuesday, another great educational series. Our Structure Implementation Series answers your questions about how to structure your business entities to protect you and your assets. One of my favorites as well is our Infinity Investing Workshop.

Additional Resources:

Anderson Advisors Podcast

Full Episode Transcript

Toby: Hey, guys. This is Toby Mathis.

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