Can you deduct operating expenses from acquisition fee received? Let's say you received $30,000 in acquisition fees, the first year operating expenses of the property is $45,000. Can you deduct all of that? Or do you ...

Just had a random question pop up into my head.
Given that the IRS requires depreciation to be taken each year, what if a person's only income is rental income, and the AGI, is below the standard deduction amount. Ca...

hello~ seeking guidance regarding "start up" deductionsOur 1st rental was in service April 1st 2014. We spent OVER 5k to prepare the home to be rented.  These funds include things like utilities, materials for plaster...

Hi, I understand there are certain tax deductions for short term rentals. I have a commercial space and am starting to do events through Peerspace, etc. Can I take advantage of the STR deductions or is it only for res...

Hi Everyone!I have a unique situation and looking for advice. Long story short, I am Active-Duty military, got divorced and my ex-spouse was granted 25% of my future retirement. As of this year I worked a deal with he...

My wife and I own 3 rental properties and our primary house. We both have W2 jobs and gross about $130k together. We are not real estate professionals. My CPA says it’s best for us to take the standard deduction despi...

Hi,I am starting out as out of state REI and am realizing that there is a lot of money that gets spent in doing due diligence on a out of state property. For. example airfare, lodging, property inspection, appraisal e...

I was wondering if an early pay rent discount is considered a loss/expense for taxes. If the market rent is $600 and I give a discount for paying on time, say $25. I collect $575 from tenant if they pay early. Can I s...

My wife owns a condo about in 2008. I married into this pig (the condo, not my wife) as we filed jointly last year. It loses about $500/mo after everything's said and done. Doing the taxes last year it wouldn't let me...

Hi Guys,If I buy a deal with seller finance can I deduct the interest payments as I would with a standard mortgage?I know you should not count this phantom income and I will not factor this in to anything. Just wonder...