Aaron Smith
Cash for Keys Tax Deductible?
Hi BPers,@Joshua Smith and I both recently bought properties and had to pay off tenants with cash for keys agreements. To me, it seems like one could argue that this is a property expense and could be deducted as an e...
Justin Johnson
Income Cap for Rental Deductions?
Bought my first SF rental in 2017. Was excited to begin doing my taxes and deduct all my expenses I spent in re-hab, travel, etc. Turbo tax is indicating that if you make over $150k then rental deductions are not allo...
Rob Stinogle
Incorporating to deduct rental losses
Last year I filed my taxes as single, and owned a rental that returned a loss. I was able to deduct the losses on my taxes.This year, I am married. The same property once again has a loss. If we file jointly, it seems...
Nick Vollrath
Allowable Deductions for Limited Partners
Can anyone explain what deductions are allowable as a limited partner in a real estate deal vs. actively owning/managing a property? For example, if someone creates an LLC through which they invest in limited partners...
Marcus Auerbach
20% deduction for rental income!
This came out this morning from the National Association of Realtors!Tax Win: IRS Provides Clear Test on How 20% Deduction Applies to Rental Income, Exchanges The Internal Revenue Service has issued final rules on t...
NA N Keith
2018 Pass through income deduction
Can schedule E rental real estate income qualify as pass through income for 2018? My other IRS 1040 income sources are only interest/dividends, retirement income, & cap gains. No wage income.
Chris Coleman
Are these Fees Tax Deductible?
I own several RE Rentals deeded in a Revocable Living Trust (my wife and I as Trustees). I also own several Notes and other investment assets in a Holding Company LLC.I also own an Operating/Service Company (which is...
William Wilson
Offsetting deductions against 'recapture tax'
Are there any personal deductions that can offset the 25% recapture tax? For instance, can an electric car purchase tax credit of $7500 be applied towards the recapture tax or is it only applied against income? Am w...
Account Closed
maximum deduction for RE education
What is the most a Full Time Real Estate Investor can deduct from taxes when its educational related. Such as seminars, mentors, and travel that are investor educational related?Thanks!
Andrew Wu
Deducting installation of GFCI outlets?
Hello all again,
Thank you for the tips on how to address / depreciate the water heater issue.
My next question is whether I can deduct installation of GFCI outlets in my kitchen (previous owner prior t...