Jim S.
Deducting expenses from failed purchase
I recently had a deal fall through as a result of major inspection issues. I had already requested an appraisal + loan application fee + was using an attorney so overall I'll be ~$2k in the hole.I'm fine with that, be...
Dana Holland
Common items deducted from deposit
Hi all, loking for some input. Tenants are moving at the end of the month. They have been high maintenance and overly entitled to put it mildly. They have requested to be present for the move out inspection (which i...
Matthew Roberts
Paper Loss and Phantom Deduction
Just began reading "Loopholes of Real Estate by Garrett Sutton". Dumb thing to be hung up on, but on page 20 I feel like the math doesn't add up. I'm getting Paper loss should be $26,012 where he has it as $25,994. An...
Sameer Jain
Property tax deduction in 2018
Merry Christmas . The new tax is a reality . I wanted to get more understanding on how will be property tax deduction on primary homes in 2018 . Is it capped at$10000 for both single and married ?if you live in high t...
Ben M.
Property management - no repair deductible
I am looking at using another property management firm. They seem to have great feedback, however, the thing that concerns me is that they don't have a repair deductible. Would this really be an issue and will cause t...
Max Emory
Home Office Deduction for Renters
If you're a renter and business owner who works from home, ask your CPA about deducting a "home office." There are rules and regulations to be eligible for this deduction but you may meet the requirements and not even...
Phil M.
Investment Property Tax Deduction Scenerio
So, my parent's are going in on a multifamily investment property (Non owner occupied). Now, there will likely be vacancy for a few months they clean up the property and look for suitable tenants. Their only other inc...
Feras Saffar
Tax deduction for maximum refund
Hello investors, I am new here.
How much tax deduction can someone get back from IRS after doing some renovation or not? Do you think a real estate CPA can get back more tax deductions than a normal CPA?
I appreci...
Kerns Churchill
Travel Expenses and Tax Deductions
Hi Everyone,New investor here. Just bought a SFR rental in Mesa, AZ and I am already doing some tax planning. I live in California, so I plan to drive to my rental property and I had a question regarding travel expens...
Rod Borges
Interest Deduction 1098 INT Form
Hi there,I purchased a home to rehab in 2018. I'm still working on it to sell in this year (2019).I have received a 1098 Int for the interest paid for that property.Should interest be filed on Sch A or Sch E?The prope...