.🤔 The title company wired the whole amount to us without deducting for the first lien or even catching that there was a first lien.  

@Chris SeveneyYesAllOf those things, just don’t forget to have receipts for everything you deduct from the security deposit.

@Richard NguyenHere are some of the downsides of putting real estate into a self directed IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

But we already get deductions for maintenance, repairs, and improvements.

It's worth the price of admission, or just deduct $200-500 from what you're ponying up for the peace of mind if 200-500 is really changing how you move.

It shall be delivered full at the end of your lease or the amount to fill will be deducted from your security deposit.Something like that.Oil is tough on tenants because it costs a lot at a time to fill.

Yes, I would be very happy to receive a copy of your itemized deduction sheet as a sample.  

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

They buck the passive rules for 469, and are considered active.BUT - As with any other business, to deduct the losses the owner must materially participate.Material participation is achieved by:1.

@Christine AledamIf you create a California LLC, the $800 cost is a tax deductible expense.