Mike Stevens
Short term rental
HelloDoes anyone know if the short term rental tax depreciation against w2 income has an income limit?I know there is 150k income limit for long term rentals. Does this apply to short term rentals?Regards mike
Juan Vargas
New Tax Reform- Great Read
Thought this was a great information on how the tax reform will affect commercial real estate investors. I have not checked to see if it was posted and shared before. I apologize in advance if it has. How CRE Investor...
Phil Shelton
Exploring Rental Loss Write-Offs for Qualified Real Estate Professionals with $150K+
Can a qualified real estate professional with a W-2 income above $150,000 be allowed to write off rental losses on my tax returns?
Navid A.
Deducting Business Expenses & the Standard Deduction
If you're employed with a W2 Salary and are investing in rental properties under a LLC (disregarded entity), would you even be able to make deductions if they add up to be less than the standard deduction on your pers...
Rob Stinogle
Incorporating to deduct rental losses
Last year I filed my taxes as single, and owned a rental that returned a loss. I was able to deduct the losses on my taxes.This year, I am married. The same property once again has a loss. If we file jointly, it seems...
Tarek Demachkie
How to wholesale a storm damaged house?
We got a lead for a storm damaged house in Dallas. It was hit by a tornado two months ago. The neighborhood is great and only few homes were hit but the rest look great across the street. The house is severely damaged...
David V.
Deducting passive RE losses from nonbusines income (salary)
Can I deduct passive RE losses from nonbusiness income?? I was not aware of this. Is this true??? See section in bold/underlined belowBelow is an article from the Washington PostTax change in coronavirus package ove...
Gokhan Tektas
Prior Year Passive Losses & REP Status
Hello All, Hope this message finds everyone of you doing well! My question is simple and I hope some of you had some experience on that. My wife qualifies as a Real Estate Professional (REP) in 2024, but she did not ...
Jeff Howard
Depreciation Deduction Limits for High Income Earners?
Hello,I am trying to figure out the best tax and entity structure and strategy before I start to purchase my first properties. As a high income earner with my w2 job, will there be limitations in the amount of tax be...
Jacob Hinchman
Tax Implications for Personal Use Vacation Rental
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 ...