@Harjot Khangura @Eamonn McElroyIf he files jointly with his wife and his wife does the 750 hours/year required for the Real Estate Professional tax status that would be legal and the unlimited depreciation defensible, right?

i have a long term tenant to , i am i the same situation , from late pay to not pay  .the late fee  they dont care about , personal i waive  many times but now my tenants  find the solution  "i dont have money" and decide to treated me that they dont need to pay rent because they know the law and they have friends in the bussines ,  so i give them 14  days demand of rent  what did t make it any difference   now i will give them 30 day notice long story short if u are nice with them u are dam 

The other 25% $3056 you could deduct in 2023 if you itemize but if you are married filing joint $27700 is the "flat" amount for 2023 that you would need to exceed to make it worth itemizing.

Have fun collecting from someone who peaced out a month ago.3) A landlord/manager should have reasonably priced resources, because not every repair bill is paid by a tenant.I would definitely not put basic faucet replacement in the same category of plumbing as soldering pipe joints behind a wall or installing pressurized systems.

My acquaintances are jointly the trust administrators, the property owners are jointly the beneficial owners of the trust.

https://www.biggerpockets.com/forums/853/topics/1170783-10-u..."

The agent has since claimed she made a mistake and sent a doc u sign for us and the seller to correct it. 

I would imagine the plumber made at least 10k pure profit (Kids u dont have to go to college to make big $!!)

I ended up learning from the local repair companies that some policies, especially if u have the “Gold” level policy, are much better than others.

If he meets the 2-out-of-15-year rule and lives in the house for 24 months before selling, he can exclude up to $250,000 of gains (or $500,000 if filing jointly) from taxes.