If I have personal loans from family and friends (to invest in real estate), can I deduct the interest I pay to them?  I recently learned that there are some interest expenses that you can't deduct, and was wondering ...

Hi everyone,I'm looking to make repairs and upgrades in my current duplex. I currently live in the unit that I want to repair (aka paint cabinets and install new flooring). Am I able to deduct any or all of these expe...

I started STR last year (my first investment property) while working W-2 job. Is it true that I cannot claim loss from the rental property if my income is above 150k (married filing jointly)?

I am currently renovating a unit, will take about 20K, as we all know, 1099's are hard to find for a budget friendly renovation. Is it more beneficial to pay 30% more (just throwing a # out there) and have a tax deduc...

To take expense deductions for 2020 on a new property being used as a b/b such as appliances, furniture etc, does the receipt need to be dated in 2020 or can it be dated up until filing deadline of 4/15/2021?

I was wondering if anyone uses anything app based that could track receipts with little to no manual effort. Interested in something that just screenshots and lets you sort by properties etc. Looking to streamline my ...

If you qualify for a section 199A deduction, you can take 20% of the profit off the top then start with your deductions like repairs, improvements, tax, ins., depreciation etc.? Can you show a loss if without the 199A...

I just finished two tax books, “Tax Free Wealth” and “Tax Strategies for the Savvy Real Estate Investor”, and both books talk about how to deduct vacation expenses with some planning. However, my tax advisor told me ...

We just recently purchased a rental property in Utah from out of state.  Prior to renting out the home we will have to fly out there to prep the home for rent.  Just wondering if we can count expenses incurred for fly...

I started my first rehab last year and now I'm trying to understand the taxes part of things.  I ended up buying a lot of tools during the rehab.  I assume that falls under the "Supplies" line under schedule E but the...