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
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 almost 5 years ago on . Most recent reply

User Stats

4
Posts
0
Votes
Jeri Herrera
0
Votes |
4
Posts

Bonus depreciation and real estate professional

Jeri Herrera
Posted

I receive $16500 in rental income for the year.  I remodeled the rental property this year at a tune of $17000.  I also pay the mortgage and 10% to a property management company.  
Because I have put so much time into the property and seeking/ buying other properties, I can qualify to be a real estate professional to offset my spouse’s income up to $25k.  
I would like to buy a truck to use for my rental and potentially other rentals as well. 100% business use. 
I am looking at $12k for a Ford F150 (6000lbs).  My question is, can I also use bonus depreciation for100% of the truck cost to max out the losses against my rental and off set our personal income? Do I have this information correct? 

Most Popular Reply

User Stats

3,740
Posts
4,490
Votes
Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
4,490
Votes |
3,740
Posts
Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
ModeratorReplied
Originally posted by @James Mc Ree:

Don't forget you will owe self-employment taxes as a result of being a professional.  They take a big bite.

 Being a RE pro does not make your rental income subject to self employment tax. 

business profile image
Kolodij Tax & Consulting

Loading replies...