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Updated over 3 years ago,

User Stats

17
Posts
2
Votes
Alfredo Coria
2
Votes |
17
Posts

Tax Deductions: Second Property

Alfredo Coria
Posted

Hi All. As many of you, it is that time of the year where taxes are due and I am searching for insight on how I can take deductions for a second rental property. According to my tax person, since our income was over a specific mark (150K) and since I am not an investor, I cannot take deductions for a second rental property.  Any thoughts?

What do I need to do to classify as an real estate investor etc....? I am trying to account for over 7k of repairs on the second property.

Thank you All!

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