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Updated about 3 years ago on . Most recent reply

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Kaustubh Johri
  • Investor
  • Atlanta GA
69
Votes |
188
Posts

Where can I read up more on IRS codes ?

Kaustubh Johri
  • Investor
  • Atlanta GA
Posted

Does IRS publish the various codes (maybe a book or a pdf document) that I can read up ? I am interested in knowing more about Tax saving techniques via RE investing. 

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9,999
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Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
18,561
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9,999
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Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
ModeratorReplied

@Kaustubh Johri the actual IRS code is 2600 pages. You will fall asleep by page 2, haha:

https://www.irs.gov/privacy-di...

As an investor, I would recommend four things:

1. Read NOLO Every Landlords Tax Deduction Guide. You can find this in libraries or just buy the book. It is a great high level explanation of deductions applicable to landlords.

https://store.nolo.com/product...

2. The IRS has many explanation documents that give examples. For a rental property investor, understanding Schedule E is critical. I have read and recommend you read the Schedule E instructions:

https://www.irs.gov/pub/irs-pd...

3. BiggerPockets has published two books on tax strategy. I would read both of these books:

https://store.biggerpockets.co...

https://store.biggerpockets.co...

4. Find a good tax professional that has expertise in real estate investment taxes. Although educating yourself is important, a tax professional will have substantially more experience, because they do taxes for hundreds of people. They will stay current on IRS changes and have tax strategies for every stage of your investing career. I could do my own taxes, but I don't. I am knowledgeable enough that I can have an intelligent discussion with my CPA.

Two knowledgeable tax professionals have already responded this thread. Both @Natalie Kolodij and @Michael Plaks are regulars here in the forums. Ask them for the Joe Splitrock discount if you choose to work with them. 

  • Joe Splitrock
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