Dan R.
Health Insurance on Schedule E
My accountant has taken the position that health insurance premiums for full-time, self-employed real estate investors are not deductible on Schedule E since real estate is not technically considered a business ...
Account Closed
I disagree with my accountant on interpretation of the de minimis
I dove into the IRS code today, and I think I have an airtight argument that the de minimis rule applies not only to personal property like refrigerators and computers, but also to materials and supplies used in impro...
Horacio Gutierrez
Real estate professional for rentals property
Hello,Do you have to be a real estate professional with 750 workhours and 50% of time in landlord job than ur job to report as business instead of a investor or does 500 work hours as landlord is enough to report as b...
Abdelkhalek Saleh
Insurance deductible charges to tenant
So I posted about a week ago regarding a damage caused by a tenant who flushed wipes into the sewer system which caused clogging and sewer back up resulted in a total damage of $6000Their renter insudid not cover that...
Rick Barbato
Who is Itemizing taxes?
Can anyone tell me if itemizing investment property expenses makes a difference now with the new tax reform?I claim my wife and two kids. I have two duplexes and understand it that if I spend less then 24k in expense...
Danny N.
Question/Advice About Taxable Income On $507k Cost Basis Condo
So I was just thinking about this tonight and will call my CPA tomorrow, but figured Id ask here for now. I have a rental condo currently thats worth $650-675k, I bought in foreclosure for $507k, 18 months ago. Anyway...
Diane Tycangco
Cash Out Paid For Rental to Get Downpayment for Another Rental
Hello, I am thinking of getting equity out of a paid-for rental and use it as a downpayment for another rental. Someone told me that when you do not use the loan to buy, improve the property you borrowed money from, ...
Kyler J Sloan
Passive Losses for STR's
Is there any way that STR rental income can be considered "active" from a tax standpoint? I spent a lot of my time working on renovations myself, and manage it myself, but I have not manually tracked the time investe...
Mike Sola
negative cash flow but postive ROI through taxes
Hey everyone!I was listening to BP episode 335 or 334 and I heard something interesting. The speaker mentioned that either he or someone he knew invested in a very expensive property which had negative monthly cash fl...
Jaden Ghylin
Flip Tax Strategies
I’ve got problem that I could use the communities advice on. I've completed one flip this year and about to do another and really want to get the tax situation under control since I'm in a high bracket already.
H...