Paul Savage
Deductible for First 4plex
I’m closing on my first investment property in 2 weeks and I need to decide on what insurance im going with. I shopped around and got a bunch of quotes and have narrowed it down to 3 options that only differ in the de...
Nicole Wood
Deductions and house hacking
Hello,We bought a duplex this year and have been house hacking. I'm curious as to how tax deductions work in this situation? Since we are also occupying the space how does it work when it comes to mortgage, mortgage i...
Joe DeLuca
Septic Install - Deductions/depreciation
Good Morning everyone,So, here's the scoop, I'll be closing on a triplex (first deal, house hack, Hunterdon Co. NJ) within the next month. We are replacing the old (really old) septic system via a FHA 203K loan after ...
Neddie Smith
Partnership Income / Deduction Split
Hi BP. I have a feeling this will be a stupid question but here it goes.I have a partner who only wants the tax benefits of real estate and is not concerned about the property income. Is it possible to purchase real e...
Nick Martin
Airbnb Tax Deductible Expenses
I will be putting my primary residence on Airbnb for 3 months while I'm out of the country for work. I want to purchase several items (soaps, paper goods, additional towels, air mattresses, etc) for use by those who u...
Kyle Steiner
Deductions from Security Deposit
I have a tenant who moved out and left the place in decent shape. However, there were some scuffs on the walls, the kitchen counters had some dried food on it and the floors were dirty. The bathroom required some cl...
Delin W.
Per Diem lodging deduction?
Wondering if I can take a Lodging Per Diem deduction for those nights when I travel to my vacation rental for business purposes. Does anyone know? I am taking the Meals & Incidental Expenses related to the trip, b...
Karen Lee
HELOC interest expense deduction
Hi - From what I've been reading there are restrictions on HELOC interest expense deductions. Does anyone know if I take out a HELOC on my primary residence and draw funds to purchase/improve rental property (1) will...
Ryan Keenan
Tax deductions and rollbacks
hi bp, question about tax deductions. Are there any tax deductions that lenders roll back into your gross income when applying for a new loan? Would rental loss and royalty loss be one of these? Thanks!Ryan
Thomas Graham
Oklahoma Capital Gains Deduction
Anyone have more information on how/if this impacts Oklahoma residents who invest in investment property? I hadn’t thought about it before until it was all over the news with the Oklahoma teacher walkout. What are the...