Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Tax, SDIRAs & Cost Segregation
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 over 1 year ago on . Most recent reply presented by

User Stats

159
Posts
115
Votes
Daniel Murphy
  • Financial Advisor
  • Saint Paul, MN
115
Votes |
159
Posts

Oddball youtube / rehab tax deduction question

Daniel Murphy
  • Financial Advisor
  • Saint Paul, MN
Posted

I've had this question in my head for a while and figured I'd finally ask it.  

Let's say you created a youtube channel for the purpose of creating a following & eventually making a profit. A DIY maker type channel. 

Could you do a renovation on your home, create a video & then deduct the rehab costs? 
Assuming of course that you continued to make videos in an attempt to build a profitable channel... 

Most Popular Reply

User Stats

5,181
Posts
6,079
Votes
Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
6,079
Votes |
5,181
Posts
Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied

Years ago, I worked out of my home office. That office had a full-length mirror on the closet door. When a client would ask me this type of questions, I'd offer them my "mirror test": say this idea into the mirror 3 times without cracking a smile. If you can pull it off with a straight face, then we will discuss it further.

I never had to discuss these creative ideas further. Nobody could pass the mirror test.

  • Michael Plaks
  • Loading replies...