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...
Ryan Watson
Deductable Expences
Is there a limit on the amount of expences a landlord can deduct from taxes per year? Such as replacing things that are coming up due, such as floors, siding, and windows?
Rohan D.
W2 and a General Partner in Syndication- Can I take my K1 loss to offset W2 Income?
Hi Folks,Need some clarification on this complex topic.There is a lot of discussion on these tax nuances in BP forums, so I am happy to read any particular thread you can point me to.Basically I have a W2 (above incom...
Jaleh Afrooze
CARES Act- Real Estate Depreciation Loss Carryback
I read in a CNN article that depreciation expense can now be deducted from all other types of income with no limit (See below). Does anyone have a good attorney or CPA who can verify this?
```Now here is what chan...
Mark Stone
RE tax questions from a noob
Ok I have a few questions in regards to my taxes and am hoping someone could help answer them or point me in the right direction! Thanks in advance for any insight!Due to my income falling between the $100-$150k, I am...
Pratik Jhaveri
Can you pass through rental income loss using an LLC?
Hi,I'm in the process of closing on a MFH and am getting mixed advice from two CPAs (one of them is my current CPA). At this time we are going to take title as individuals as one of the units with be owner-occupied by...
Steve Sanderson
Ordinary vs Capital Losses
I'm currently reading The Book on Tax Strategies for the Savvy Real Estate Investor and reached the section about real estate losses. They mention that real estate losses are often times mistaken as a capital loss. In...
Julie Washburn
Issue with CPA understanding Real Estate Professional
I am a Real Estate Professional, but I seem to be having trouble with my CPA understanding how to account for this. 2022 was my first year as a Real Estate Professional. My husband has a W-2 job with a large amount of...
Prashanth Ven
Tax loss harvesting
Hi Experts,Thinking of selling a rental investment that will probably be at a loss, it also had passive losses. Can I offset any of the below with these losses:1) Short/long-term capital-gains from stock sale2) W2 inc...
Daniel Dietz
Passive Losses Offsetting Pasive Gains?
Hello All, There is lots of talk on here about Passive Losses and if there are deductible or not and if so, to what amounts. To my understanding, if you are NOT a 'Real Estate Professional' (which I am, but have never...