With the time difference and my schedule, I think it will be very difficult to participate in the live sessions.

Money earned from renting out your property and the expenses from doing so are usually recorded on Schedule E of your tax return.

DM me If you'd ever like to schedule some showings.

Lenders will use your tax returns schedule E to calculate your monthly rental income.

Feel free to schedule a chat with me through my calendar if you'd like to dive deeper into this topic.

If you'd like to schedule a call, feel free to reach out!  

Can I deduct expenses (utilities, mortgage interest, taxes, etc.) on a Schedule E for my 2023 taxes?

Hello, I am seeing some distressed properties being scheduled for auction at low(for NYC) prices.

Option 1: Separate SchedulesCarryover: Continue depreciating the remaining cost basis from the relinquished property over its original depreciation schedule (e.g., 17.5 years remaining for residential property).New Schedule: Simultaneously, start a new depreciation schedule for the additional cost basis attributed to the replacement property, following standard timeframes (27.5 years for residential, 39 years for commercial).Option 2: Treat as New AssetCombined Basis: Treat the entire cost basis of the replacement property (carried-over basis + additional funds invested) as if it were a newly acquired asset.Single Schedule: Depreciate the total cost basis over the standard timeframe for the replacement property type (27.5 years for residential or 39 years for commercial).If you choose option #2, you need to file an additional form (4652) with your tax return. 

Qualify the seller quickly on the phone and schedule an appointment to see the property.