Jess White
What rental REI expenses can I deduct while still a W2 employee?
I am currently still a W2 employee while building my real estate business out of My question is this, what can I write off on my taxes while I am still a W2 employee and not considered a "Real Estate Profressional"? I...
Edward Skirvin
Taxes. Is it really this hard?
As a bit of history, my friend and I created an LLC to purchase rental properties in 2017, but didn't buy our first property until March 2018. We're having everything deposited to a business checking account in our LL...
Joe Caivano
Tax Strategy/Direction/CPA Vetting
Hoping for some tax advice. My wife and I are young professionals. Our income is around 300k combined, we file joint. We have two rental properties. We gross 17,800 on one and 60k on the other, so total rental income ...
Jaleh Mozafarian
Beginner tax question
Hi. I am new here and would really appreciate some help.
I switched my home into a rental mid year. I had to do bunch of renovations in order to rent it, such as redoing a whole shower that wasn't functional plus so...
Damien Clark
Taxes and partners
I have a partnership in which I handle all the financial side of things (Pay for the cost to purchase, sell, rehab cost, cost to hold etc) my buddy does all the work on the houses and we just split the profits evenly ...
Krystyna Fennelly
Purchasing my FIRST MULTI-FAMILY-12 unit apartment-Any Advice?
I'm super excited to be purchasing my first multi-family property, a 12 unit apartment (8 one bedrooms, 4 two bedrooms) in a great suburban area. I've been a residential Real Estate Broker 17 years and have been inve...
Patrick Roane
1st investment property: schedule E
Hey everybody,
I just registered as a member here and I'm excited to contribute all I can. I'm a Sub2 investor and so far, my experience has been great. I am prepared to file my own taxes this year and was wondering ...
Justin Fox
Depreciation of appliances, fixtures.
If you put your previous home up for rent (10 years old), can you depreciate the appliances, and fixtures separately even if the the appliances and fixtures are not brand new?Thanks,Justin
Jacob Allen
National Guard Related Tax Question
I'm keeping a tracker of my mileage for tax deductions through real estate. In doing this it dawned on me, can you write off the mileage that you drive for drill weekends as well?Given that drill weekends are only on...
Praveen Ashok
How to find out land value for depreciation
My parents used to live in their home, which was bought in 2009. They moved out and started using it as a rental property in June 2016. This is the first year I am doing taxes for this property. Prior years were done ...