Pablo Pinasco
New AC Tax Deductible
Hello,
I am pretty new to BP and I am doing my best to study as much as I can to get ready to invest in the near future. I currently own and live in a condo in Los Angeles, Sherman Oaks specifically, and it looks li...
Ana M.
capital expenses or deduction???
I am a real estate professional. (not passive activity).. I file jointly with my husband who is a doctor and has high income (500k/yr). I have 3 LLC's for mostly flipping properties. I have 2 rentals and 5 houses f...
Kris Fox
Help with Deposit Deductions
I bought a house and inherited a tenant. They moved there in 2004 and they moved out. The carpets are shot and need to be replaced. I obviously have no idea what the condition of the carpets were when they moved in. ...
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 (...