Cindy Tang
Can Depreciation be adjusted if it's limited in prior taxes?
I have 2 rental properties, Texas and Georgia. I sold one in GA in 2018 (which we purchased in 2007) and didn't do 1031 Exch. Now, the depreciation hit me back as gain when doing the tax report. However, I reviewed th...
Joseph Niedermeyer
Newbie question on personal income and rental income deductions
Long time lover of real estate but relative newbie to investing. It’s tax Season and in doing our 2019 taxes I asked about strategies for reducing taxes. I made just shy of $100k last year and want to start investing ...
Peter Schuyler
High Earned Income and putting money into Real Estate Business
If you have high earned income and can funnel some of the extra money into your passive real estate business to make repairs etc that supplements the passive cash flow, can you still write these expense of as business...
Carlson Driver
Are expenses on short term rentals tax deductible
Say if we had a short term rental in Hawaii and were using a property manager to manage it for us which cost us ~$200/month. And we had to replace a dishwasher for $500 in 2021. Would the $2400 ($200 * 12) + $500 = $2...
Trevor Dominique
Tax Advice - Selling Failed Investment for Loss
Hey BP,Reaching out to get some advice from a tax strategy standpoint. I currently have 13 units and am looking to aggressively grow my business over these next couple years. I have one property that was a complete fa...
Armeen Mazda
Depreciation recapture and passive losses when selling property at a loss?
I have a rental property with the following situation:-$155K of passive carryover losses-$100K of depreciation taken-$700K adjusted cost basis (purchase price less depreciation)- $775K net sale (selling price less rea...
Vu Nguyen
W2 Income Tax Deduction Strategies through Syndication
Hi Guys! I am new to the Bigger Pockets Family. But I am in great distress seeing how much taxes are deducted from my W2 income. I need help with understanding how to reduce my taxable income strategically through s...
April Birdsong
AGI >$100,000 Can't deduct rental losses?
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...
David B.
Depreciation to wipe out taxes from early IRA distribution?
Let's say i take an early distribution from my IRA, and buy a rental property.Can I use the new accelerated depreciation to wipe out the taxes that I have to pay on this distribution?
Rudolph T.
Best tax strategy for >150k earner to own investment property
Hello my fellow BPs, I'm considering of starting my first investment property soon. I have been doing my own research by reading the BP blogs, listening to the podcasts, asked people questions (including my CPA). Howe...