Emilio Ramirez
Pay Cash, Lose Your Tax Deduction?
I recently read somewhere, I think in Edelman's book, that if I bought a property for cash and then took out a home equity or some kind of note that the interest is not deductable versus if I purchased the property st...
Mike Montana
Interest deduction on cash out REFI
If you own a SFR without debt and REFI the property to cash out the equity then use the cash to invest in a syndication or buy another rental, is the interest on the loan collateralized by the SFR a tax-deductable exp...
Storme Whitby-Grubb
Deductions available on LTR with W2?
Hi all,
I'm gearing up to purchase my first investment property. I had settled on OOS SFH in 2023, with the goal to potentially purchase MFH in 2024. I have been looking at buy and hold, and putting tenants in the p...
Peter K.
Tax deductions for a investment property?
Anybody with knowledge with taxes: what specific items can you deduct for tax purposes? I know you can claim depreciation on your home and gas for going to and from your investment home? Anybody have a list? I know I ...
Steve Salvatore
Rental Property Vehicle Deductions and Taxes
I use TurboTax to do my rental property taxes on multiple properties. My properties are within a 1 mile radius, but I'm spreading trips across multiple properties. Is it a better strategy to record all mileage ag...
Michael Rodriguez
LLC tax deductions and property management
I am looking tonopen a sober house in the Long Island area. I will be opening an LLC to limit liability, knowing full well the tax implications are identical for LLC vs. personal ownership in buy and hold situations.
...
Lesa Palmer
Question about HELOC interest tax deduction
Last August we took out a HELOC on what was our main residence, to use as a down payment on a new house, which is now our main residence. We turned the first house into a rental. Under the new tax laws can the interes...
Asia Whited
Deducting RE courses/coaching/membership fees
Has anyone had success deducting fees from a REI membership that includes coaching/courses/workshops/etc without an entity in place? I have rental property that isn't yet in an entity and no other business as of yet, ...
Alik Levin
HELOC interest deduction - New Tax Law
Dear all,What's the definitive answer - and preferably pointer to authoritative resource - regarding deductability of interest on HELOC with the passage of new Tax Law? I do realize that HELOC interest deduction now o...
Ivy A.
Are Inspection and Appraisal Cost Deductible?
I paid for an inspection and an appraisal for the deal that eventually failed through. Are those expenses tax deductible at the end of the year since I didn't end up buying the property?