Margaret Jay
Depreciation and tax deduction questions
Some questions for investment property: 1) when you buy a house, does the 'clock' on the 27.5 years start over, regardless of when the previous owners bought it?
2) what is a ballpark building vs. land ratio to use w...
Ayoka Moss
Tax deductible? - tenants rented for a month while I started capital improvements -
Hi, I just want to understand if I bought a property (quad) and received rent while I started the capital improvements .. can I deduct the expenses of the rehab still? This was a major rehab over 6 figures. Ty and ha...
Greg Pugh
Buy and Hold Remodel and taxes
Purchased a buy and hold and am in the long........ process of remodeling. Does this go on the schedule E along with my other buy and hold since I did not rent at all last year?
Nathan Roberts
Converting Primary Residence to Investment Property
I converted a property from a primary residence to a rental located in California in 2022. The date of conversion is 5/29/22 which reflects the first day it was advertised online for rent. After listing for rent, I st...
Deb L.
Tax/depreciation questions bathroom remodel
I'm having the master bath remodeled starting in January-cost about 9K. It continues to be occupied by good tenants. I gave the contractor 3K deposit this week for cabinets, etc and I will also be buying some lighti...
Account Closed
World's first personality test for screening tenants
I'm looking for feedback to help improve a new service that I created.
[Disclaimer: this will be a commercial service from which I stand to benefit.]
I am an assessment scientist with a Ph.D. in Psychol...
Will Toress
Seeking advice on tax deductions for STR that's under construction
Hi all, been reading a ton about taxes related to STRs but still have some questions. I bought the property in 2022 with the intent of making it a STR that year. However, when starting construction, we found extensive...
Lacey A.
Depreciation of Windws in Prim. Residence converted into Rental
We lived in the SFH and replaced all of the original windows and sliding doors in October 2019 to improve energy efficiency. (They were 40+ yo) We moved out and converted the SFH into a rental in March 2021. On our ex...
Troy B.
Repairs to new duplex
I just bought a duplex which one was rented and one not. Both units where in need of some repairs but I'm not sure what is a tax deduction and what I have to depreciate. I know the painting and cleaning can be deducte...
Philip Johnson
Flipping but won't be done until next calendar year, tax advise?
Hi,My first post!I have a house that I am doing a full-time live-in flip on. I am complete rehabbing the front unit, and then adding on/converting garage into 2 bedroom house.Problem is, I won't be done until next ye...