Zach P.
Question on writing off Rental Income to Zero
With last years taxes, I was able to write off my rental income down to zero through depreciation, repairs, hoa's, taxes, insurance, etc on my rental properties.Since I do not meet the qualifications to go to $-25,000...
Account Closed
tax refund on rentals claim losses? confused?
Ok quick question regarding taxes. I purchased my first rental and on my earned income i make under 25k a year as a server (don't claim enough tips), basically I am looking at purchasing Albert Aiello's tax software, ...
Jeff Howard
Income Limits to Mortgage Interest Deduction?
Hello,I have a fairly high AGI and am wondering if there is an income cap for taking the mortgage interest deduction and depreciation on any rental properties I may buy in the future. I hunted around, and I don't bel...
Gariner Trinidad
tax benefits of buying a $2M dollar home as first time home buyer
As a first time home buyer and single, how can i maximize the tax benefits available to me if i decide to buy a 4 unit/multifamily house that is worth $2 million and property tax of about $30,000 per year?
Will like ...
Dylan Brown
Syndication Tax Benefits
I've recently began exploring the idea of apartment syndication investing as I currently work 80-100 hours a week at my full-time job. I am wondering how the tax benefits work for syndication investors and if they are...
Michael K.
Anyone familiar with the SHST (Safe Harbor for Small Taxpayers)
Anyone familiar with the SHST (Safe Harbor for Small Taxpayers) - any insight here would be very much appreciated. Thank you!!1) I understand the safe harbor to be the lessor of $10k or 2% of the unadjusted basis of t...
Matt Hunter
W2 depreciation offset
Hello, I am new here and looking for help. If this is the wrong platform forgive me. I am an active three year STR investor with 4 current STR properties. In January of 2023 my business was sold. :) Unfortunately,...
Joe Rest
Total recapture depreciation when selling an house
I am trying to figure it out how to identify the total recaptured depreciation to report for tax purpose as result of the sale of rental property. The first realization is that this is a TOTAL recapture depreciation ...
Julio Gonzalez
Deductible Repairs vs. Capital Expenditures
A capital expenditure is money spent by a business or organization on acquiring or maintaining fixed assets, such as land, buildings, and equipment. This would include architectural fees, new equipment, cost of protec...
Rik Hunter
Allowable itemized deductions lower than what your rehab cost?
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 ...