Rhonda Palmer
1st Yr of Taxes as Landlord - Have a question...
Hi all...first year as a landlord and have a question regarding the taxes we are filing.
We have owned the now-rental home for 15-16 years, decided to move and rent out the old house. We have an accountant h...
Chris F.
Do all expenses need to be capiltaized before "placed in service"
I have a rental I purchased in September 2017. It needed substantial rehab and it will be ready for rent later this month. My understanding is that all expenses and improvements must be added to the basis. I under...
Will Cline
Fannie Mae MI Termination
I purchased a townhouse in June of 2021 using a Conventional Fannie Mae loan (5% down.) Due to appreciation in the Charlotte Market I have greater than 20% equity in the property and therefore called my lender to requ...
Mick Harvey
Tenant wants high speed internet
Have a great national tenant. Pays bills on time and takes care of commercial building. They spoke with AT&T and will cost $50k to run service to building. They are willing to pay it but wants added to rent.
If w...
John L.
Addressing improvements when converting residence to rental
I'm looking to convert my primary residence to rental before the end of the year. There are some maintenance and improvements necessary to make suitable for rent. For example, I need to fix some gutters and downspout...
Brian Scott
Cost Segregation on a Personal to Rental Conversion
The tax publications say when converting a personal home to a rental, the basis is the lesser of the FMV or adjusted basis. 1. Is there any rule saying one couldn't do a cost segregation when converting, to bonus depr...
Daniel Loane
Filing taxes: when to expense vs capitalize for vacant rental property
Hi everyone,
I purchased my first rental property in June 2023, and it took until December to prepare it for tenants. I posted the listing on December 12, and my first tenant moved in on December 26th.
As I’m filing...
Anthony Conte
Landscapping and Inspections Questions
hello all.My 1st post on this forum. Wondering if someone can help me out with a couple of tax questions I have. Any help is greatly appreciated.1. Recently bought a property and as part of the 'Option Period' I ha...
Mark Rhea
Deductions on Improvements Before Officially Renting
We moved out of our primary residence in Tennessee and relocated to South Carolina in July of 2016. We have spent about 7 months getting the home ready to become our first rental property. It has taken that long due t...
Jeff Lee
Online Payment Services/Help Tenant Build Credit
Does anyone have any experience with online rent payment services that claim to help tenants build their credit? This is what I've found so far and I'm trying to find one with the lowest cost for both landlord and ten...