Don O.
Life Insurance as Deduction
I've been browsing the web and I don't believe I can write off any of my premium for life insurance but wanted to make sure I'm not missing anything.I am currently looking at purchasing my first property as a "buy and...
Vijay Jain
Heloc intrest deduction question
I have two part question1)let say I bought 4 home using heloc on my primary home and used 100% to finance my 4 home purchase and these home are under my llc, so I transferred my heloc loan to my llc a/c and made pur...
Mike Donnenwerth
Real Estate Education Deductions
First post, new investor in Winona, MN. I am currently in the education portion of my real estate investment plan. I know that expenses including travel (for business) can be deducted, but I was wondering about educat...
Cathy Chang
tax deduction on equipment
Hi BPers,I bought a used printer and laptop for my rental business. Can I deduct the expenses when do tax? Since I bought them through garage sale, I dont have receipts. Is this doable? What do I need as for proof?Man...
Grant Doyle
Commercial Vehicle Tax Deduction
I recently bought a fourplex that needs some work done to it. This work involves hauling large materials such as lumber, drywall, and much more to the property. Unfortunately I cannot fit these materials into my small...
Vincent Q.
Tax deductions rental property
Hello BP,First rental property- single fam not in llc.Can you advise what I will be able write off this year for taxes?Thanks
Sean Holland
Deductioning work vehicles/trailers?
I already have a primary vehicle. I want to purchase a secondary work truck (20k) and dump trailer (7k). Trying to figure out how much of these purchases I can deduct. Also, what other deductions would that cut into (...
Helen Lowery
Is new roof deductible?
I have an opportunity to buy a deal, but the house needs a new roof ASAP. We are doing a lease-option, so I won't actually be purchasing the property until 1 year from now... just sub-leasing. I have asked the owner...
Michael Didion
AC unit deductible expense?
My wife and had AC installed in our rental back in July and we are wondering if the cost to install the AC is a deductible expense. Any thoughts are appreciated.
Jennifer Schultz
Deducting expenses this year?
Hi All~I just joined BP, and this is my first post. ;) We started investing in real estate in 2017. My husband and I created a LLC- partnership and have purchased 2 single family homes in 2017 that we are painting ...