I am wondering what happens if the expenses towards a rental property exceed the amount you get in rental income, what happens that that excess dollar amount? I am currently house hacking (living in one unit of a dupl...

Hello Bp. Does anyone know if the mortgage interest deduction works towards w-2 taxes or is it geared more towards business owners?

I'm moving to a new primary residence and turning my original residence into a rental. Can I deduct my moving expenses on next year's tax? The movers would be clearing out the old residents (my family) and prepping th...

Hi,Tax question. I currently own 19 units in 7 different properties. All of the properties are held in my name personally, not in an LLC or partnership. I am a heavily leveraged individual, which is way I haven't yet ...

I’m preparing my end of the year taxes and wanted some advice. Can I not deduct or depreciate maintenance or remodel/upgrade costs to the unit I am living in. I am nearing the end of year one as I purchased December 3...

Well I got my second less than stellar tenant in two years. Another single mom. Figures. A pity you cannot discriminate based on marital status. Anyway, after she moved out the place stunk like cigarette smoke. I knew...

From what I understand, you can deduct the entire premium as it is an expense to run the rental property. With prices going up so much, if this lowers your cashflow too much, I feel like you may not look profitable in...

Hi everyone, question around tax deductions for investment properties. We purchased our first investment property last year and just met with our accountant to file our taxes. He informed us we cannot deduct any of ...

Hello BP Community,  I unfortunately have some flood damage on one of my rental houses due to Hurricane Harvey and is not covered by flood insurance (Yes, I understand this was not a great business move on my part, bu...

Hi everyone, Upon signing up I remembered hearing somewhere that a membership to BiggerPockets is tax deductable because it is business related. Any truth to this?