You may deduct your lodging related to the time spend in Denver on real estate business.3.

One thing to note: You cannot put your assessment fee into escrow/deduct from your assessment fee unless there is a specific provision in the association documents or a specific provision under state law.

Why wouldn't you just deduct it as a straight deduction.

The tax law disallows deductions for any fines and penalties, however I was wondering if that applies in this situation because the fines are not directly being assessed to me.

I told him to go ahead and if I liked the designs, I would put them on the website.If somebody ordered a rug in his design, we would work it this way; we deduct the cost of the rug, shipping and the taxes Dad would have to pay on the profit.

How do I go about deducting these costs?

He might get extra picky with the move-out protocol and deductions... :)

Maybe not every year, but every few years.A more realistic assessment is to deduct 50% of the gross rents to cover expenses, vacancy and capital.

I’m reading the NOLO “Every Landlord’s Tax Deduction Guide” and have a question about net operating losses and the $25K offset.

That leaves $1240 for NOI (net operating income) after deducting 50% for vacancy, expenses and capital.