Bill Bouillon
Tax Deductions for Non-Professional
Hello BiggerPockets!I've been consuming as much content from BiggerPockets the past 6+ months to plan for an earlier retirement than I initially thought possible. I plan to ease my way into REI by renting out my curre...
Chris C.
Deductions for self performed work
Why can I fully deduction the cost to cut down a tree, but if I buy a chainsaw myself, I can't fully deduct the cost of the chainsaw? Or my time for that matter
Andy S.
Repair Deductible Charged By Landlord
For my rental in New Jersey, I have set a deductible of $60 whenever I make a visit to do any kind of repairs for the tenant. For example any water leak, of the contractor charges me $250, out of that $60 tenant pays....
Arov Smith
Itemized deduction and pet fee
Are we required to provide usage split for 'non-refundable' pet cleaning fee as part of move out deduction. The tenant had given $500 refundable cleaning fee and $200 non-refundable pet cleaning fee. After move out, ...
Arov Smith
AZ - Itemized security deposit deduction
Our last tenant moved out of the house on Dec 15, 2022. As per AZ law we have to send out itemized deduction letter within fourteen days, excluding Saturdays, Sundays or other legal holidays. We were out of city for f...
John Khadiyev
Buy and Hold tax deductions
I am in a process of buying a property to rent it out. I know that the cost of bringing the house to habitable conditions is only deductible when you sell the property. But since you can deduct property maintenance ev...
Millie Gargurevich
Question on tax deductible expenses
l am trying to learn more about tax information and determine exactly which expenses are deductible and which aren’t. Specifically, fences, gutters, landscaping, to make the property more competitive for rent.
Also, ...
Henry T.
CPA, STR deductions and losses.
My CPA says STR "A" can only deduct expenses for STR property "A", and only up to income level. Whereas my other LTR rentals B,C,D,E etc, can accumulate/share deductions and losses , as well as carry over. STR cannot....
Raphael Ramos
Tax Deduction on Promissory Notes
Do you know if it is possible to have a tax deduction for interest/profits earned on promissory notes/PML? Like a K1. A Trust is in place. Thanks!
Dan Wynn
Real Estate: Significant tax deduction
When you own a home, you receive a significant amount of tax deduction. Also, certain closing costs and loan discount points are tax-deductible. These tax deductions can bring a substantial amount of money back into y...