Utilities for the Vacant HouseNot deductible.

.: Stessa isn't good for keeping track of tax deduction items.Stessa was designed to just look at P&L.

Provide a detailed accounting of deductions, along with the invoices, to show you’re acting in good faith.

All properties are eligible for a cost segregation study as long as they are investment properties.

@Jonathan Small For Partner 1 ($72K W-2 income, 2 rentals in an LLC), hiring a CPA is advisable due to the complexities of managing rental property deductions, depreciation schedules, and LLC compliance.

Curious of what everyone is electing their SFR deductibles to be?

ChatGPT tells me that the cash out proceeds even if only reimbursing myself is non deductible because the proceeds are not reinvested in property

My question is: could the current tenant (age 59) remain in the property if she becomes eligible for Section 8 assistance?

Deduct mortgage interest, property taxes, travel, and operational expenses.

My questions are;Do I have to take expenses as a deduction in a year in which they occurred even if I do not get income until the following year  I have other rental property, but my taxable income on them after expenses is only gonna be about $5000 So is there anyway to roll over expenses to the next year since I cannot deduct the remaining 15,000 and expenses against my W-2 income?