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Results (10,000+)
Cameron Iarrobino If tenant leaves items behind
2 April 2024 | 5 replies
My understanding is that so long as they confirm that they're moved out and give me the keys, I'm well within my rights to just have a junk remover / trash company take whatever was not there to begin with, and deduct that from the security deposit?
Zach Adams House Hacking - Can only deduct rented bedroom square footage?
30 March 2024 | 3 replies
I was told that I could only depreciate 8.6% (square footage percent of the upper unit) and only deduct repairs done to the rented room alone.
Account Closed Deductions for Investment Interest Expenses by Kislay Shah CPA
30 March 2024 | 0 replies
This is achieved because the IRS allows deductions for interest paid on investments when the money is borrowed to do so.
David Shelby Can my LLC act as a management company for my own properties?
1 April 2024 | 10 replies
Red flag to IRS if you try to deduct the taxes and insurance on the LLC tax return.
Dave Luu Rental Property tax (F1040 Schedule E and F8582)
31 March 2024 | 1 reply
But on F8582, I already deduct the net income in the unallowed loss calculation (carry over loss for that property becomes -$30K+$2k=-$28k) on Part V and VII and VIII.
Samuel Metcalf PMI for the life of the loan? No options?
1 April 2024 | 7 replies
You also benefited from the tax deduction that includes PMI and per your own statement, it's been a great experience until you looked at a recent statement that reminded you of what you once knew but forgot from long ago.Do the math.
Kristen Haynes How To Avoid Capital Gains Taxes On Your Personal Home Sale
31 March 2024 | 4 replies
“If an individual is part of a high-deductible health care plan, making a contribution into their health savings account would also reduce taxable income.”Donation to a Qualified Charitable OrganizationCharitably inclined individuals might consider donating cash or appreciated property to a qualified charitable organization, potentially providing a tax deduction to help offset that tax year’s taxable income.
Justin Strait Anderson Business Advisors
2 April 2024 | 27 replies
SEP IRA wasn't deducted, Real Estate Professional status was not applied, and Cost Segregation wasn't consider for the year 2022. 
Rene Bee security cameras for rental
1 April 2024 | 11 replies
Two incidents of thefts from my rehabs was a no-brainer to get the WI/FI which is nominal to me calling the police, informing the insurance company only to be told (whatever) wasn't covered, and of course my deductible is $1000. 
Michael Moreno Seeking Tax Advice for Beginner Real Estate Investor
30 March 2024 | 9 replies
Quote from @Michael Plaks: There are many CPAs here and many investors who think they are CPAs.The key issue to understand is: you cannot create any tax losses from renting rooms in your house.So if I rent out one of my rooms at say $600 a month ($7200 a year), I cannot deduct more than $7200 in expenses?