Russ Roslewski
Househunting expenses deductible?
At the beginning of last year we owned one single-family home as a rental property, in another state. Last summer, my wife traveled there to look for another property to purchase, found one, and we bought it. She al...
Vikram C.
Major Tax Deductions
I'd like this thread to be a place where we compile a list of the major tax deductions available to a real estate investor. Since I do flips, I do not get the benefit of depreciation, but here are a couple of good on...
Justin R.
De Minimus deduction
According to the interpretation of some CPA'S the de minimus rule applies to real estate investors. Per their statement, any itemized expense under $2500 can be moved into the repair category, even if it is considered...
Michael Bertsch
HELOC interest deduction
Can I deduct my HELOC interest on my schedule E? The HELOC is on my primary home and I have used the money for investment properties nothing personal. From what I understand, most people deduct it on their schedule A ...
Michael Bertsch
Home Office Deduction
Can I use the home office deduction if I am already taking a loss on my schedule e? A few CPA's have told me I can but literature I have been reading says otherwise. It states you can't create a tax loss with a home o...
Roy Gutierrez
Deducting from Deposit
Hi guys,The renter that left my property just asked for an itemized list of deductions, I told him that I won't be returning any of his money after he left me with a flea infestation in the house that is still not und...
Helen Kim
Research Travel Deductible?
Hello, can you deduct travelwhen looking into foreign markets for possible purchase of a short-term rental?
Account Closed
Tax Deduction Clarification...
Can anyone help explain how this works for an investment property? In order to arrive at an estimated value of tax deductions for a rental property would you:A) Add up your annual depreciation, operating expenses and...
Peter Schuyler
Renter Deduction Questions
If I help my landlord with simple maintenance, caulking, fixing can light fixtures, replacing an exhaust fan, can I deduct on my taxes the material costs and or labor since I performed this work for a rental property ...
Richard M.
Security deposit deductions
I'm preparing for my first unit turnover and am trying to determine what is reasonable to deduct from the security deposit.
There are some fairly deep scratches in the hardwood floor but unless I want mismatching ar...