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Updated about 5 years ago,
Need tax advice on 3 unit FHA property
Hey all,
First post here, been a member for a long time and finally at the point where I need some solid guidance. So I purchased a 3 unit home and I live in one of the units and took an FHA to purchase this home. I have done some repairing and renovating and have all my receipts kept.
My question for you all is what do I need to make sure I do when tax comes around to get the most advantage? I know I can write off stuff such as interest payment on my loan and repairs. Is there a software that you guys recommend using to document this? Or do you just take pictures of your receipts and send them to your accountant? This is my first year doing taxes as an investment property owner and I want to make sure I make the most of it :) Sorry if I posted this in the wrong area as it is my first post so please bear with me! Thank you in advance for all your help I know how useful everyone on bigger pockets can be.