Brian Koons
House Hacking Tax write-offs
I am currently house hacking a 4 unit property. The unit I live in has 2 additional rooms that are both rented out. I currently am not using any space as a home office, and it would be somewhat difficult to designate ...
Jorge Rivera
Tax write off without income
Hey BP! For my accountants and tax gurus out there...I started an LLC ready to start real estate investing right before COVID. Looks like I’m sitting this year out (based on the market). I have business expenses relat...
Account Closed
Drones and Tax Write Off
Hello Everybody,
I am not sure if this is the correct forum.
However, does anybody know if a drone can be a tax write off? I purchased one so I don't have to climb a ladder and check the condition of the roof and ...
Mason Haley
Tax Write-offs pre-ownership
Hello, I am currently in the process of finding a short term rental to purchase and wondering how to best take advantage of what I am doing from a tax implication. I am in a high tax bracket so the implications could ...
William Arrington
Tax write offs and depreciation
I am closing on 2 AIRBNBs and have started buying the things they will need. The question I have is... Will I be able to write off and depreciate the items since I technically do not own them for another week or 2. ...
Mike Sivert
Subject to - tax write off?
I'm thinking of doing a subject to deal. If I continue to pay the mortgage in the the seller's name (with out refinancing) would they claim the mortgage interest tax deduction or do I get to claim that since I am payi...
Lee Israelsen
Renting basement Tax write offs
I am building a house this year. If I build a basement apartment, can I write off a portion of the expenses it took to build the house when I go to do my taxes for 2024?
Ryan Mayes
Membership a Tax write off?
Hello, was thinking of becoming a pro member to gain access to all the caculators and got to thinking, would a bigger pockets membership be a tax write off? We (wife and I) own a duplex and 2 single family home renta...
Kade Honaker
House Hacking Tax Write Offs
Is there anything I can get a tax write off on if I am house hacking such as repairs or maintenance? Can I depreciate the property considering it is in my name and not under a LLC?
Kwame Knights
House hacking Tax write off
i'm under contract for a Single family (1600 SQ FT) and it has a existing detached two car garage (800 sq ft) that i'm planning on converting into a in-law unit/rental unit. I'm think of using a 203k loan to rehab bot...