Charlie Massey
bookkeeping, depreciation, tax
When I was getting together all my information for 2021 tax return, I am realizing I might need some help with bookkeeping. I have a rental property, doing a flip right now, and am also a broker, so I have other deals...
Max Zappas
trading for depreciation
Would it be wise to sell an asset and 1031 exchange once you've taken the bulk of the depreciation on it? For example, we purchased a portfolio of 142 units and about 20-30% of the purchase price was able to be taken ...
Serena Halterman
Tax Depreciation Question!
Hello everyone,I rent out three bedrooms in my four bedroom home. They are fully rented all year. Can I depreciate the percentage of my house that is used as a rental property even though it is my primary residence? I...
James York
Bonus depreciation help
Can someone help me understand the future of bonus depreciation? As I understand it, I can take 100% of 5 and 15 depreciation this year. This phases out starting next year. Does that mean next year I can take 80% of t...
Shawn Pottschmidt
Bonus depreciation items
I’m sure it’s listed somewhere on the Internet, but I’m honestly too lazy to go and do all that digging. Does anyone have a decent guide or list of items and services that can be included as bonus depreciation on a re...
Pavan Kumar
Real estate depreciation
Hi allJust starting out in my real estate investing journey and have some questions.Appreciate your input.Let’s say, we put down 200k and borrow 800k to buy a 1 million house. We hold it in an LLC. Let’s assume $5000 ...
Christopher Morris
100% Bonus Depreciation
Hello BP,I’m just learning about 100% bonus depreciation and how Trump pays no taxes… who qualifies for that? Does the property need to have an LLC in place? Does it matter that I purchased with an FHA loan? Do you ha...
AJ D.
New Construction - depreciation
In terms of depreciation - what happens if your new constrution build ends up being more than the original loan amount?For example, I initially had my new construction build assessed at $400k, however there were some ...
Anna Smith
Depreciation recapture ... really?
We became accidental landlords ten years ago. It has been a terrible investment. We are thinking of selling it and am embarrassed to admit I didn't know about depreciation recapture till recently. WTH?
We would now...
Edward Adams
Roof Replacement Depreciation
Hii just changed the roof on one of my rental properties. it cost 18K and insurance paid for it and i only paid 1.5K for deductible. do i just depreciate the 1.5K on my tax return or 18K?