Hello,
      I have purchased a condo to use as a short-term rental. I would like to stay at the rental every once and a while. I have read many articles about personal use, residency, and taxes. But still have some ...

We had traveling nurses in our home in 2021 and my friend just told me I can write off Netflix since they used the account for their use. Any other interesting write offs that you learned along your journey that I sho...

I did a fair amount of reading and binging / googling and couldn't find a specific answer to this question. If after reducing my gross rents by all allowable deductibles, I have $10,000 in remaining profit for the yea...

According to my accountant, there is no longer an ability to deduct mortgage interest for a delayed financing mortgage (a mortgage for a primary or secondary home that is taken out within 90 days after the home is pur...

I am confused! Turbotax is not letting me deduct my rental income loss from my income. Any idea why would that happen??

Just got my tax return back from the CPA. It's my first time using one, and since I'm no tax expert, I was shocked to see that I owe taxes and that my wife and I only got the standard deduction because the "Allowable ...

https://www.marketwatch.com/st...
Higher maximum rate
The pre-election Biden
tax plan would raise the top individual federal income rate on ordinary
income and net short-term capital gains back to 39.6%, the to...

I rented out a property in another state. Due to a number of factors, the rental property has generate losses. According to the IRS, there is a limitation as to how much (loss) you can deduct. The Limit is $25K but if...

Has anyone taken or considered taken the Covid 19 Cares act $100,000 out of their 401k to purchases additional properties? What are you all's thoughts? My thoughts are that you could buy a property and depreciate it o...

Hi thereI am new to investing, looking at a SFH for my 1st rental property and trying to understand the tax benefits that are often spoken of on the podcasts. But, my CPA says that because my AGI is >$100,000, I am...