Jerald Sander
Rental start up property tax
Purchased a house in 2019 but the rehab / start-up carried into 2020 before being ready to rent. I understand most of what I've read about capitalizing start-up expenses and the $5000 rule. I read somewhere, can't f...
Llewelyn A.
What happens to House Prices if Mortgage Interest deduction ends?
Unfortunately, it seems that this Government wants to take away any kind of Debt Financing of either Business or Home.It's pretty much in the Republican Tax Reform policy that they are pushing ahead. What's even more ...
Mike B.
Tax Question - Converting Primary Home to Rental
My primary residence will be converted to a rental on April 14th and then remain an investment property. Currently, I'm living in the house and doing small repairs to get the house ready. We usually use the standard d...
Steve Weihe
Tax deductions-6 month rental before selling last year
Morning all,We sold our house late last year in San Diego and ended up renting it out for the previous 6 months as initially our buyers didn't qualify. We spent almost $12k to get it rental ready (repairs, replacing ...
Amby Bhagtani
Offset W2 with depreciation
For people who are on a W2 what would be the best way to negate W2 income (including stocks?)? Is this possible with long term multi family real estate?
Terence Purcell
Renting from yourself
With the recent increases to standard deductions - the taxation benefits of owning your own home have been reduced.Being a landlord continues to be tax effective.I have a family member who is looking to buy for themse...
Sean Rogers
How to account for a duplex on tax return
I have a friend that bought a duplex. He lives in one room. He rents the other two rooms on one side to his friends and has the other side rented out. He is saying that he can not take any portion of his house and st...
Austen Iverson
Owner Occupied - Short Term Rental - Tax Deductions
Hello all, I have a house overlooking a lake in South Dakota. This is my primary residence & the mortgage is held personally on a 30 year note. I file for "owner occupied" status and have the mortgage interest ful...
Colleen F.
Managing taxes when you pay your child
Ok so I hired my son to work on my rental , he is 17. Some of what he does is not 1099 work but employee work so we should be withholding taxes and sending to the IRS. can anyone recommend an inexpensive service...
Rick Barbato
Who is Itemizing taxes?
Can anyone tell me if itemizing investment property expenses makes a difference now with the new tax reform?I claim my wife and two kids. I have two duplexes and understand it that if I spend less then 24k in expense...