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 ...
Eric Sender
Deducting Interest in 2018?
I am a CA resident looking to start REI, most likely as a sole-proprietor at first. I am expecting that all my expenses concerning the investment, such as interest, will be a write off from my REI income. In fact I ha...
Tiago Martins
New property tax deductions
I read that you can’t deduct expenses when purchasing a property and making it rent ready, until it’s listed for rent. So any repairs to make it rent ready can’t be deducted, correct? Now, I have also read that lis...
Winford Hill
Tenant deducted from rent
To all experienced landlords,I have a bit of a dilemma. I used a Property Manager to lease a property for me. Once a tenant was selected, I took over property management responsibilities. One of the community requirem...
Elisabeth Cooke
SALT deductions and rentals
Does the 10,000$ SALT deduction under the new tax laws include personal property taxes for rental properties or not?Thank you and Merry Christmas
Bradley Chiakas
SALT Deduction Limitation Question
Hi BP Community,I have read 5 articles and am still unclear on the new $10k deduction limit on SALT. I am considering all tax implications before purchasing my first multi-family property.I currently have about $150k ...
Austin Nguyen
Raw land tax deductions
Looking at some raw land in california to develop. My understanding is any costs (property taxes) for the raw land CANNOT be deducted on Sched E until it is ready to rent as residential. Only on Sched A if you itemize...
Joe Neely
Car accident tax deductible?
So yesterday at 6am I got the call from my tenant that the hot water pipe at the water heater was squirting everywhere. I ended up repairing it myself but I was on the way to get a new faucet aerator (since I broke t...