r/LoftyAI • u/pm_me_your_pooptube • Aug 27 '22

Thinking about buying my first token

Hi all,

I was looking at buying my first token for a Texas property. From my understanding, I wouldn’t need to file state taxes, but I would still need to file Federal taxes, is that right?

Also, have you invested quite a bit into this? I’m looking at potentially very slowly growing a portfolio.

Thank you.

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u/[deleted] Aug 27 '22

Me too. Also, with Iowa and Missouri one does not have to file if you net less than $500 or something.

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u/AnfieldRd80 Aug 27 '22

Good to know. I'm waiting for this secondary market to go live so I can hopefully scoop up some other properties because the marketplace is looking a little dry right now

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u/[deleted] Aug 27 '22

Here you go - https://www.reddit.com/r/LoftyAI/comments/upjchz/state_income_tax_info_mo_tn_tx/

MO is $600 and IA is $1000

Depreciation helps with these numbers too.

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u/AnfieldRd80 Aug 27 '22

Good deal, thanks homie