Just had a random question pop up into my head.
Given that the IRS requires depreciation to be taken each year, what if a person's only income is rental income, and the AGI, is below the standard deduction amount. Ca...

Hi BP community! I just talked to a financial planner/CPA and she said that depreciation of a rental property can not be written off as a deduction if your household income exceeds 150K. I could not find any proof of ...

Hi All, I have a house hack which is a duplex. I rent out the lower unit and for the upper unit, I rent 1 of 2 bedrooms. I was told that I could only depreciate 8.6% (square footage percent of the upper unit) and only...

Hi guys! Does anyone know how much of a rented SFR in Los Angeles my tenant is allowed to use as "home office?" I have looked and can't find a ratio of how much of the home must be home space vs office space. Any help...

I am looking to buy a rental property turnkey. I understand some tax benefits should be money I used on maintenance and the mortgage, but the biggest one depreciation seems to be out of reach.Do most people still use ...

I'm brand new and I have a question that concerns taxes. If you have a corporation which allow you to deduct business expenses do you still have to go through the process of performing a 1031 exchange on your profits ...

With the new tax law, net income that is received via a pass through entity is allowed to have a 20% tax deduction. Essentially 20% of the rental’s net income is tax free.Most owners have mortgages on their property ...

Cash out refinanced 4 rentals. Goal is to buy more rentals with the money, but I'm not finding any deals yet. How can I calculate the interest amount I'm allowed to deduct on the new loans for the rentals? Are they fu...

Hello,
I am looking at building a primary residence with one of the large builders in my area. The Utah State Legislator passed a law last year overriding all HOA's allowing Primary Residences to have rentable ADU's...

My CPA advised that since I will be managing the rental myself, rental income qualifies as Active (=earned) income (vs. Passive).
Does that sound right?