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Updated about 1 year ago, 10/08/2023

User Stats

231
Posts
188
Votes
Thomas O'Donnell
  • Rental Property Investor
  • Columbus, OH
188
Votes |
231
Posts

First year as a rental property owner-- Tax Questions

Thomas O'Donnell
  • Rental Property Investor
  • Columbus, OH
Posted

I bought my duplex back in September 2022, but did not get the other side rented out until March 2023. Since this is the first year I will have rental income, what are some things to look for with taxes? Such as tax breaks/write-offs? Also should I get in contact with an investor friendly CPA asap? I have always done taxes myself but since I own a rental property now I know I will need help with taxes. I have been tracking income/expenses through Avail property management software. Would love all and any input about taxes as a real estate investor and what to expect. TIA!

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