Arnaud Petel
Use of tax deductions on your personal income
Hi all,I am starting my real estate investment journey and am trying to understand the impact of tax deductions. Based on my calculations my first rental property will not be profitable from a tax standpoint after all...
Michael Plaks
EXPLAINED: I started REI in 2021, what expenses can I deduct?
Here is the standard answer to all legal and tax questions: it depends. In this case, it really does. We have to start by answering 3 critical questions:
What kind of real estate business?Did it actually start in 202...
Jeff Ronningen
Tax Treatment: Capital vs OpEx
Hello BPers, wondering what the consensus is out there for categorizing capital vs operating for appliances? Window A/C units? Painting? Refinishing floors? Carpet? I'm leaning to treating it all as expenses.
Rebecca Cramer
"Schedule E" HELP for tax illiterate newbie!! :)
Hi friends! I am finally getting to my 2018 taxes and we bought our first short term vacation rental property in 2018. We have receipts galore and trying to fill out our "schedule E" and I have a lot of questions. Our...
Sean Stack
New business expenses deductible against w2 tax?
I formed an LLC for a home building business in 2022. It took a while to get things lined up but I'm finally getting the ball rolling here at the end of 2023. I just closed on a vacant lot, and am starting to get thin...
Wai Chan
20% pass through deduction for rental income
If me and wife own a piece of rental property (joint tenants and not under any LLC), does it consider as pass through entity? When we file tax jointly next year, can we claim the 20% pass through deduction for the ren...
Jonathan L Berhow-Rivera
Tax Guidance? I am like a sponge, with my first property rehabed
Does anyone know where I can find a checklist of what is deductible when being a buy and hold investor? I m looking for any guidance that is out there to start getting documents, reciepts and invoices inline.
Jose Soto
When can I begin tracking my expenses for tex deductions?
My wife and I are beginning our real estate investment venture. We're in the process of acquiring our first rental property and we want to take full advantage of deductions related to our business.Do we need to own th...
Sabrina Savinski
Property purchased but not rented in 2016
I bought my first property in November of 2016 but did not have any income in 2016. Can I still claim my expenses? Trying to use H&R Block software but it will not let me enter 0 days rented in the interface so I ...
Patrick Gilbert
Real Estate Depreciation
So I understand the concept of depreciation - appreciating asset that degrades (“depreciates”) over 27.5 years so you get to take a loss on taxes. My question is: how is that depreciation number determined, specifical...