I don't think my tax advisor is claiming depreciation for two rental properties and I'm looking for some help from the BP community.  I did a 1031 exchange in early 2022 from a single vacation rental I had into two DS...

I currently own a rental property in the Kansas City metro area and am in the process of transferring the deed to an LLC I have created. I am not sure how this will directly impact my personal taxes but would love to ...

Bought a rental property in LA County, CA back in April 2018.  Rented until Sept. 2018.  Hired contractor for renovation in May 2018. Due to unexpected increase in cost to complete renovation the renovation project wa...

Today my CPA told me that I cannot take the full amount of depreciation on my rental this year because my adjusted gross income will be over $150k.  He said we can defer the deduction until we sell the property or AGI...

I'm planning to BRRRR my next property. What are the limits for tax deductions during the rehab on this type of investment? The property needs $20k worth of capx and repairs but it's move in ready currently. 
I read ...

How to split/declare a 3 unit while living in one in my taxes? The best advice or guide will be appreciate it

Hello guys,

We finally have our very first property ready! So we are very excited about that. Given that we have only one property at the moment and it will probably stay that way for at least one year. Both my wife ...

How do lenders calculate debt to income ratio using the schedule e on tax returns?

Hi there, What happens when one stops renting a particular property.  This is not related to a sell, so no recapture taxes apply. The reason is simply that there was no effort to rent such unit for a year.  This is no...

Hey guys,

I'm new here, and I have a question about the way LLCs should be set up and how they are taxed.

I am thinking of investing in a duplex, and renting out both units. When forming the LLC, I am wondering ...