I'm new to real estate investing and would like rent out my condo in 2018. Can anyone point me towards resources that explain how rental income should be reported on your tax forms?
As a wholesaler..when income tax season comes do I have to file income tax for any of the properties I wholesaled?...
If yes or no..what else am I required to report on income tax?
Thank in advance!
I am doing numbers on a rental complex I am buying and just wanted to make sure my logic was correct. 1. These are rental duplexes. I assume depreciation 27.5 yrs. Also 35% tax bracket. 2. Assume home value is 1 Mill...
Does one get taxed on the income produced from a rental property ? Not the property itself but the month to month income
Hello,My name is Keith, I'm new to the site and just beginning to do some property analysis. My question is on how to account and plan for any taxes I will have on rental income I receive. ( keep in mind my calculatio...
Can depreciation on rental properties be used to offset W2 earnings? So for example, if I make $100,000/year through a job, can taxes on that income be offset if I make a loss when I deduct depreciation from my rental...
This was my first year wholesaling part time here in DFW. I made a decent chunk of change doing it, about 40k. My question is when it comes to taxes, should I utilize a real estate tax professional at the end of t...
I am moving out of state. The state I will move to has a 6.5% income tax. I will have a rental unit in my home state of Tennessee. Can I assume the rental income I receive will be taxable in my new state of residen...
Can someone explain to me how rental income is taxed? I have property in my name that was quick claim deed it to me but someone else received the rental check ?
I have been analyzing houses for almost a year now. I understand the basics and really just need to dive in. One thing that has been a little confusing to me are the tax deductions. Off the top of my head, you can ...