June A.
HELOC tax deductible?
Hi, I am a new landlord, I purchased a family home from my siblings, using a HELOC on the rental property, and a loan for my 401k, is any of the interest deductible? I hope I posted this in the right place.
Grace C.
Depreciation tax deduction
So the tax code says that a rental property depreciates over 27.5 years, i.e. 3.64% a year. So does this mean that as a landlord, I dont pay tax until I make 3.64% x house price? And if I pay down 30%, it means that I...
Steve Caldarone
Tax deduction/mileage
Anyone know if mileage can be claimed for long distance real estate investment. In the past I have had several yearly visits to property (1000 mi away) and claimed air, vehicle rental 50% meals, etc. This year I ...
Jeremy Keone
Tax Deductible Limits
Aloha. 🤙🏾 Looking for advice and insight. Any help is much appreciated. Recently I have been exceeding the limit on tax deductions for my rental property business, when filing for my annual tax returns. Every year I d...
Samantha M.
DBA Tax Deductions?
I just spent most of this month spending money to get my business up and running. I filed it as a DBA for right now and will upgrade it to an LLC when I start producing income.
I accumulated a couple $1,000 in initi...
Dalton Dellinger
Tax Deductible Expenses
Hello BP! So I was creating a spreadsheet to track all my business expenses. Is my phone bill tax deductible since I use it for business purposes? I offer internet to my downstairs tenant for free (I am house-hacking ...
James L.
Tax Deduction Question?
When I buy a home with a 30 yr mortgage at a rate of 4%, I have a payment each month for 30 years. Some of the payment goes towards paying down the principle; some goes towards interest. I then get to deduct the inter...
Vikram C.
Major Tax Deductions
I'd like this thread to be a place where we compile a list of the major tax deductions available to a real estate investor. Since I do flips, I do not get the benefit of depreciation, but here are a couple of good on...
Account Closed
Tax Deduction Clarification...
Can anyone help explain how this works for an investment property? In order to arrive at an estimated value of tax deductions for a rental property would you:A) Add up your annual depreciation, operating expenses and...
Erik Schilling
Inspection tax deductible?
Hey guys,I was wondering if I get an inspection done on a potential investment property, but dont end up purchasing the property, is the inspection cost still tax deductible?Thanks