Robert Reineri
Primary Residence To Rental Conversion
Converted on October 1st. So for this tax year, I'll have 3 months of depreciation and all those other "taxy" things, right? (Rented the property in one day on market).My question concerns the split between personal a...
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Pay Down vs Invest
I currently have enough money to pay down 65% of a California townhome I plan to live in, but that money could easily buy several investment properites in other parts of the country.
My uncle is a real estate agent w...
Brandon Montgomery
Does your first rental really save you on taxes?
With the standard deduction being 24k (or so) for married couples will one single family rental save us on taxable W2 income? I just purchased my first property and plan to BRRR it so it will have 20k or so worth of r...
Zach Adams
Owner-Occupied MFH Tax Questions
So I'm looking for a duplex to live in at least for 2-3 years. I've qualified for a 3.5% FHA loan, and have questions about what I can deduct. I own 2 SFHs so I understand the standard deductions. Can I use these s...
Tiprin Lujan
Net Operating Loss or Suspended Passive Loss?
Last year I had rental losses totaling -$15,727 and unemployment income of $4,500. TurboTax combined the two which resulted in an AGI of $-11,227. It indicated I took the standard deduction and put the full -$15,727 l...
Venkat Na
Loan on Rental property to pay primary home loan
I currently have a loan on my primary home. And I also own a rental property with no loan. Now that standard deduction limits are changed in new tax law, I may not be able to use 'mortgage deduction' on primary home a...
Devin Keener
How does the $150k AGI rule work for real estate tax deductions against w-2 income?
I'm new to real estate investing and own one rental and a primary residence. I recently found out about the separation between passive and active incomes and that there are rules about crossing the line on how you can...
Emil Matov
New Tax Reform Refinance my inv properties and payoff primary res
Based on the proposed Tax Reform with the substantial increase of the Standard deduction would it make more sense to refinance my investment properties as a cash out and payoff the mortgage on my primary residence. It...
Axy Parikh
Taxation on Improvements to a new rental property
I am investing in my first rental property and need help navigating a few basic questions:- If I make improvements to this rental property, how is it taxed? (Is it considered expense and can be deducted at one go? Is ...
Fred Stevenson
Allowable tax deductions
I'm an active investor, but I don't qualify as a professional REI. I'm trying to understand what types of business related expenses I can deduct. I have created an LLC that I will be using to buy my investment prope...