Should I deduct the cost from their security deposit or is it considered normal wear and tear?

Hi.  I am trying to find out if I can include closing costs I am paying on behalf of the buyer in my capital gains calculation.  They want to increase the price they are paying for the home and have me pay their closi...

Hi,I am trying to decide whether to stay with Travelers and increase my deductible or switch to Steadily, which is much cheaper.

I know you deduct the standard 1/27.5th of the improvement value, $200k. 

If I owned several LTRs and STRs, I'm under the assumption those two would not mix when it comes to depreciation and tax deductions because one would be active vs passive?

I choose the calendar year I pay in based on where I am with deductions for the year; if I'm already maxed on deductions I hold the payment until January; that gives me potentially double deductions that year. 

Otherwise expect to have to added to your rent/deducted from your security deposit. 

At a minimum, if you want to shelter W2 income you need to know the IRS rules regarding passive activity losses and the exceptions, and also about the largest tax sheltering deduction, which is cost segregation and bonus depreciation.

Any other possitive factors  - stable tenant base  - alarm systems  - regular checks on the property  - no pets  - Lead safe certification  - newer roof, plumbing, electric, etc..Anything to balance off the lossesBe prepared that it may end up in a non-standard (surplus lines) market for a couple of years.If you did not have flood coverage before, see if they will continue the current policy if you get Flood coverage and increase the property coverage deductible. 

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.