Chris C.
Are Deductions really per property?
If i have 10 properties and use the same phone for each of them, do i have to take that phone cost and divide it by 10 and put it on each schedule E? Or could i deduct it 100% against one property?
Jeffrey Fung
Tax deductions for NNN lease
Hi, First time dealing with a NNN lease. Since all maintenance, taxes, insurance, improvements is done by the tenant, what other types of deductions are available? Thanks!
Justin Pumpr
Owner occupied duplex tax deductions
hi all,I'm on the cusp of buying my first ever property and it will be an owner occupied duplex. I'm trying to navigate the maze of tax deductions and was hoping to get clarification/confirmation on a few things:I can...
Shodhan Patel
Insurance deduction for tax purpose
Hello BPers
I have a question regarding property insurance and tax deductibility.
I have property deduction and have gotten an umbrella to cover any liability (property is in my name and will only get transferred a...
Mike H.
Pet Deposit and Deposit deductions
Recently I have had a question pop up and I thought I would check with other LLs to see how you guys deal with it. I have a property that has received a 1-mon deposit (say, $1000) and a refundable deposit ($500) for ...
Michael Clemson
Emergency Room trip tax deductible?
I hit my head at my own rental this weekend, lacerating my head and taking a trip to the Emergency Room. I'm the proud owner of a few staples now! (No Urgency Care in the area on weekends.) I'll at least have a co-pay...
Roshan Taheri
Deduct expenses in following year?
My partner and I are in the process of fixing a condo to start renting it for the first time next year. We've been doing all the work ourselves so far, relatively low cost stuff like painting and cleaning. We're now a...
Kareem Shihab
Mortgage Interest Deduction on Investment
Hi! I'm new here and I have a basic question. I own a Single Family home and deduct my mortgage interest. If I am buying an investment property am I also allowed to deduct my Mortgage interest? For investment propert...
Charlotte Dunford
Syndicator's acquisition fee tax deductions
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 ...
Gagan P.
Depreciation Carryforward vs Standard Deduction
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...