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.
Personal Finance
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 almost 2 years ago,

User Stats

6
Posts
2
Votes
Jennie Evangelista
Pro Member
2
Votes |
6
Posts

Income but Negative Cash Flow- Beginner

Jennie Evangelista
Pro Member
Posted

Hello,

For the first time I worked with a CPA who specializes in real estate and was really excited since I was hoping to have more write offs this year however the opposite was true. I've had a rental for a year and most of the year I had negative cashflow (not anymore) but on my tax returns it showed that I made a few thousand dollars, which I didn't because most of the rent went straight the note of the home (which was more than the rent I was collecting). My expenses exceeded my revenue. The items that they wrote off did not cover my "income." Long story short, it showed that I made a decent amount last year when in actuality I did not; I was negative most of the year. I'm in CA so I had to bit the additional depreciation increase. So obviously it increased my net income, which I was taxed more on. That being said, how do people offset it since most need to pay the mortgage/note? I'm just really surprised. Any advice would be greatly appreciated!

Side note: I refi the loan so CF is not negative. 

Jennie E. 

  • Jennie Evangelista
  • Loading replies...