I have a rental I purchased in September 2017.  It needed substantial rehab and it will be ready for rent later this month.  My understanding is that all expenses and improvements must be added to the basis.   I under...

Hi BP,I’m struggling to calculate the potential tax benefits for owning a real estate investment property. My research has shown that the following are the greatest available rental investment property tax write offs:...

Hi, guys! I still need to file taxes for 2018. I also have a new LLC but did not make any money this year. I remember reading that I can simply complete my normal tax form and that will also count toward my single mem...

If you’re house hacking(living in a room, renting out the others), how best should you think about treating your property and rental income/expenses in relationship to your taxes?
* My tax preparer is not knowledgeab...

I am trying to get my barrings straight on taxes, fees, etc. associated with short-term rentals.  In my state short-term is considered less than 30 days.  According to my reading once classified as a short-term stay I...

My business is buying vacant land, cheap through tax lien foreclosure and then selling it. I own 125-vacant lots. Business is BAD, I haven't made a profit in years. I was holding some of the lots for investment but th...

For my rental properties I maintain a home office. Should this deduction be taken on Schedule E along with my other rental expenses? I ask because Turbo Tax lists the home office deduction on Schedule C.

My spouse and I have a real estate pass thru LLC we are 50:50 partners / owners of.  We are in the middle of a flip which will sell in 2024 and have a second one lined up.  Estimate to make 80-100k from both deals. Fo...

One of my tenants is asking me for a W9. Ever since they've moved in, they've been paying their rent in 3 checks: a personal check, a check from their first business, and a check from their second business. This has n...

In 2021 I had overall negative AGI on my personal return due to losses on rental properties. I had no tax liability in 2022 and now here in 2023 I do. How/ where do I utilize that prior loss? Is it an NOL on Schedule ...