
17 July 2019 | 1 reply
I have taken the depreciation deduction 4 of the 5 years, and I believe my tax basis is around $95-100k.

19 July 2019 | 2 replies
@Levi Lewis I have my house hacking clients run numbers as though the property was a pure investment.

18 July 2019 | 5 replies
My understanding is that starting in 2018 a W-2 employee can no longer deduct unreimbursed business expenses from their income.

18 July 2019 | 5 replies
Honestly, based on what you described, I would just return the entire security deposit because - if challenged on any deductions - it sounds like you would have absolutely no way to prove the home wasn't in that condition when it was originally rented to the tenant.

19 July 2019 | 14 replies
I will estimate the damage and deduct only the damage from security deposit.

19 July 2019 | 10 replies
Many condo associations do not budget enough for future expenses, then when something happens, they must levy special assessments on all the owners.

20 July 2019 | 6 replies
I would not get the deduction though on the tax I have to pay on the profit.

11 August 2019 | 3 replies
In my case this deduction has offset my income from my properties and even adjusted my gross income.

19 July 2019 | 5 replies
Because its the basis in the structure that matters, you get to deduct the value of the land in making that determination.

19 July 2019 | 5 replies
What do I need to do to still qualify for the tax deduction on the expenses?