Kyle Kipka
Expenses across multiple properties
I self manage a portfolio of 6 units and am wondering about the correct way to account for general expenses that span multiple properties as tax deductions. For example, things like tools or building materials that I ...
Lucas Ayers
Cost Segregation & mild rehab - same tax year
Greetings,Can I purchase a property, get a cost segregation done & then do a mild rehab and replace some of the 5-year items in the cost segregation and get BONUS depreciation on both the old and new? this is all ...
Beth Julen
Can I amend my 2022 return to add rental and depreciation?
I am a homeowner in Portland, OR, but moved to Washington State in 2022. I began getting the home ready to rent out in the fall of 2022. I bought tons of furniture (the intent was a furnished home) and put up ads. I'd...
Renee H.
A cornucopia of tax questions - please help!
Hello, a little bit of a long post with a couple of tax questions :-) I'm looking for some help as I've become increasingly confused around taxes!Crossing my fingers someone could help me find answers to questions tha...
Ron Brady
Replaced sewer line and financing payment - what is the correct approach for taxes?
In July we replaced a broken sewer line for $8,500. We have 0% financing for 12 months. We have the cash to pay it now, but with 0% financing, we are in no rush to give up our cash. 1. Is this a capital expense to be...
Sydney George
Anyone know of an investor friendly title company in Spokane?
I have a couple of properties I need to open a title with. I'm looking for one that has done double closings, wholesales, novations. Anywhere in Washington state works, but bonus points for a Spokane one. Many thanks ...
Jacob Radford
Can brief LTR-ing allow bonus deprec. of 1st home improvements?
Thanks in advance to this great community. I'm wondering if a brief stint as a MTR can make my primary residence eligible for bonus depreciation of improvements?BACKGROUND: I'm a high-income professional and my wife i...
Eric Williams
Cost Seg Assumptions
I'm a new member but I have a CPA and Masters in Accountancy and Master in Taxation.I saw people posting about cost seg decisions and thought I would share some thing I had learned from others1) The cost seg savings m...
Brandon Espino
Buying my 2nd place. What should I be aware of?
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $270,000
6 bedroom, 2 bathroom ~2100 square foot home in eastern Colorado Springs. I'm going to be house hacking and re...
Craig Ts
Depreciations and tax benefits
All,Need help understanding personal income tax benefits of SFR depreciation, would be great if you can comment:Lets say one is not a real estate professional then, AFAIU depreciation (straight line or cost segregatio...