Jinesh Patel
Tax advise for high earner w2 couple.
Hello,Me and my wife both work fulltime on w2. we are planning to start investing in the real-estate this year. I am not sure how I can take advantage of the rental losses here. As I went to one of the tax classes an...
Devin Keener
How does the $150k AGI rule work for real estate tax deductions against w-2 income?
I'm new to real estate investing and own one rental and a primary residence. I recently found out about the separation between passive and active incomes and that there are rules about crossing the line on how you can...
Daniel H.
Depreciation
If I purchase a home for $25,000 cash, then spend $15,000 to fix it up, then refinance at an appraised value of $100,000(just an example), would depreciation be based on the $25,000 plus improvements or would it be ba...
Eli K.
Which Expenses are fully deductible on a rental property?
I read many articles saying that you can deduct your property management fee or your repair costs or your insurance cost from your tax on your rental property, are those fully deductible??? Like if the property manage...
Brady Huf
Using excess depreciation against other business (S-CORP)?
I have an S-CORP that I run my video production company through.
I am planning to start an LLC to purchase my first investment property.
Question 1:
Can I use excess depreciation from that property to offset taxes...
Shaquitta Perks
Suggestions on filing taxes without taking a huge hit on income?
How can I file my taxes without taking a huge income loss from being self employed. I am applying for a home loan but now my income is reduced significantly from the way I filed. Is there a way to get around that to ...
James W.
Is rental income taxed the same as regular income?
I am a new landlord renting out my first rental property. Does the IRS consider rental income as regular income and tax accordingly (30%)? Are there any special tax breaks or deductions?
Charlie Martin
Purchase under an LLC or not?
Hello, I’m hoping to buy my first property next year, and am wondering if I should create an LLC to do so. The reason is I want to separate my personal debt to income ratio from my real estate investing “business” and...
Osahon Abbe
Qualifying for a conventioanl loan after Cost Segregation
Has anyone done a cost segregation on their tax returns and that reduced your W2 income through the losses claimed? How did you navigate getting a loan with the reduced income on your tax returns? I know you can use a...
Wei Xie
Can I offset capital gain with rental operating loss?
Dear fellow BPers,
I am wondering if I can use accumulated rental operating loss to offset capital gains:
1. Gains from sales of rental properties, either related to the operating loss or not.
2. Gains from sales ...