Michael Didion
Full PITI payment deductible as expense?
Is he full PITI mortgage payment deductible on schedule E as an expense? Or are just parts it it deductible like interest and insurance?
Karla Parraga
Home Office Deduction as a Newbie
Hello everyone,I am currently learning about real estate investment and I have a separate office space at home. This office space at home is used to search for deals, contact lenders and for real estate self education...
Brad E.
Deducting lock change from security deposit
I just closed on a property with an inherited tenant. The tenant is moved out and really hasn't caused any noticeable damage, however I did not receive a move in condition report from the previous owner.I do have the...
Mark Hamrock
Tax deduction for private pilot licensing?
Has anyone written off the cost of private pilot licensing against your buy/hold or note investing business? According to the IRS: "a business expense must be both ordinary and necessary. An ordinary expense is one th...
William C.
Depreciation/Deduction Options for Fencing Project
We have a home we purchased and occupied for 3 years. In 2021 (while occupying the home) we spent $5,000 on fencing. Early in 2022 (this year) we moved out of the home and placed it into service as a rental property. ...
Selina Gruden
Interest deductable for cash out refinance
HI Real Estate friendly CPAs, I have a question regarding to interest expense deductible for cash out refinance.We did a cash out refinance for our primary residence in Nov, 2021, loan proceed is $755k. Paid off the ...
Jacob D. Lange
Tax Deductions on a New Property???
New Investor here, in contract on my first rental property.
If I do not have any revenue related to the property in this fiscal year, can I still take all the legal deductions? Do I have to wait until I can show rev...
Geoffrey Hoffmann
Typical RE investment LLC startup deductions
Hi I am getting started and can’t find info on what can be deducted for this type of business during the startup period. ( yes, I will speak with a CPA ASAP.)in the meantime what are some examples that I can deduct in...
Alex Smith
Damages from wind - security deposit deduction?
Hello!
I just wanted to see what other landlords would do as I’ve never come across this situation before. A recent wind storm ripped open a storm door and shattered the glass in it at one of my rentals. The door wa...
Matthew Cervoni
Tuesday Tip: Know What Is Deductible
Hello BP! Don't forget to be tracking your tax deductions throughout the year. To be deductible, a business expense must be both ordinary and necessary. Ordinary meaning it is common and accepted in your industry, and...