Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
General Landlording & Rental Properties
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 6 years ago on . Most recent reply

User Stats

28
Posts
23
Votes
Josh Durham
  • Peoria, IL
23
Votes |
28
Posts

Tax deductions for 1st rental property

Josh Durham
  • Peoria, IL
Posted

Hello.

I am working on my first rental property. My plan was to BRRRR it. I purchased it and am nearly done rehabbing it.
But, I keep hearing various things about not being able to deduct repair expenses and mileage for a rental property if it isn't advertised for rental, or if it is your first property. The email answer I received from my CPA was not clear. (I'm sure I will talk to him for clarification, or find a new CPA, but I wanted to reach out to the BP community).

Apparently there is a podcast about this topic...and surely it has been discussed on forums...but I cannot seem to find this via the search function.

I'd appreciate any assistance.

Thanks!

Loading replies...