Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago,

User Stats

52
Posts
17
Votes
Rebecca Cramer
  • Rental Property Investor
  • Catonsville, MD
17
Votes |
52
Posts

"Schedule E" HELP for tax illiterate newbie!! :)

Rebecca Cramer
  • Rental Property Investor
  • Catonsville, MD
Posted

Hi friends! 

I am finally getting to my 2018 taxes and we bought our first short term vacation rental property in 2018. We have receipts galore and trying to fill out our "schedule E" and I have a lot of questions. Our CPA wants us to pay him $100/hour just to answer a few questions...so Im here asking you. Here we go:

1. Im so confused what category to put things like all the decor we bough for the house, pillows, plates, kayaks, paintings, coffee and tea,furniture, sheets, mattress, couch, everything we bought and continue to buy to make the property a vacation rental....there is the "supplies" category but I also heard some things go into the the depreciation category like furniture. But just confused where to put what...HELP!

2.Also, when we came up to stay in the location (Ocean City, Maryland) to look for houses and stayed in hotels and ate out can we deduct that as well in "travel" category? Is it 50% of food costs? Does that include the grocery store food we bought during those trips?

3.Also when we go to the property to do improvements. Can we deduct all the food costs 50%? Grocery store food?

4.Can we deduct loss of income when we stayed at the property to do improvements since we blocked time off and couldn't get rentals?

Any help would be so much appreciated! Thanks!!

Best Regards, Rebecca

Loading replies...