Account Closed
25,000 deduction limitations
ok trying to figure out the limitations on the up to 25,000 loss on rental properties. So let’s say married and over 150,000 in annual income. Does that automatically mean I can’t take a lose at all and any loses ro...
Jeff Fairchild
Tax deductions rentals
This article:
http://www.googobits.com/articles/1349-taking-a-tax-deduction-for-home-mortgage-interest.html
says near the bottom of page 1 that you have to live in a vacation home 14 days of the year in order to deduc...
Allison Bagay
Education tax deduction
What are the requirements for education deductions for the state of Pennsylvania? I am not talking about an actual college education. I am referring to an online film industry seminar that I chose to participate in. T...
Dave Grosse
Deduct Personal Labor?
Is the cost of my own personal labor on property that I own a valid deduction?
I had a bid from a mold remediation for $4000 but opted to clean it all myself.
Thanks
Matt Wilcox
Any Other Deductions?
I keep hearing/reading about people that are not paying taxes on their rental income because they can offset it with deductions. I can't come up with enough to cover the income. What am I missing. I am deducting:
-...
Loren Kreider
deducting a skidsteer
I'm working on my tax return and ran into difficulty. I bought a used skid steer in 2018 for use on my rental properties, cost $6000. I have three residential rental properties in service and one I am currently renova...
Vinay B.
Rental loss deduction
Hi All, I moved to a new home and rented the one I lived until now. I am making 2200 a month against 2700 costs (p&I, taxes, HOA etc). thats 6000 a year in losses. is there any way I can claim deductions for this ...
Adrian Ruiz
Tax deduction guide
Hey BP, I recently bought a book titled “every landlords tax deduction guide“ from a local thrift store, after bringing it home I noticed the book is the 12th edition from 2016. Will the material in this book be outda...
Elizabeth Jackson
Tenants Fighting Deductions
Hey BP community, I’m trying not to lose my mind here. We had tenants for 3 years move out recently in Virginia. The place was really gross- mouse droppings, damaged and moldy drywall, a broken window, termite dam...
Terry Royce
Tax time deductions?
Im scrambling to do my taxes.
What deductions should i remember to make, or what little known deductions can i make as a wholesaler/investor?