Hello,
I am going to sell my house this spring. I will made a profit of over 250K(i'm single) so will be up for capital gains taxes. I have a second mortgage/line of credit of which I can take out a further 35K if I n...

I have done some searching on this and have not found a straight answer. Does one have to be a "real estate pro" in the eyes of the IRS to qualify for the Sec 179 deduction? Or can you qualify by only being an "active...

I am house hacking a triplex and the unit I moved needed to be fixed up (new subfloor, new flooring, replaced kitchen sink, bathroom sink and toilet, wall repairs, painting, and multiple dump runs).  Am I able to dedu...

Does anyone know what expense category you should deduct a Home Warranty on Schedule E (Form 1040)?  Is it considered insurance or just an "Other" expense?

Thanks!

I regularly overbuy supplies from home depot when I am renovating/repairing a unit. When filing my taxes, would it be okay to use my original receipt instead of the return one? I know it’s wrong, but is it common prac...

Has anyone had problems with deducting travel expenses associated with looking at real estate properties in distant areas?  I'm reading "Tax Free Wealth" right now and am curious if anyone has implemented the strategy...

My W2 income over the next 3 years is going to be significantly higher than normal.  Is there any way to avoid paying a high personal income tax rate on this income?  I understand that if I am a "Real Estate Professio...

I'm surprised that this was not being discussed in BiggerPockets. There is a bill proposed to get rid of property tax deduction (probably also mortgage interest deductions as well). https://www.seattletimes.com/nation...

It is my  understanding that the new tax bill requires that in order to deduct 2017 property tax, it must be paid no later than December 31, 2017.  If paid next month in January which I always pay, I will not be allow...

I just talked to my accountant,  and she is filing my taxes for 2017. I did purchased a my first rental property  in 2017 and we did repairs in it. It is a house hack property where I live in one unit and rent the oth...