Joel Trout
Must itemize to claim rental losses on schedule E?
Hello BP community. I have 2 rental properties. One shows profit, and the other shows a loss. My accountant says that I can't deduct the losses because the "standard deduction" is higher than my losses. So there is n...
Victor Omoniyi
Gain/Loss to Lease - Line Item on Cash Flow Statement?
Hello BP Community,I am analyzing a deal and I see the Gain/Loss Line item on the CF statement - it's a positive value - so severely inflates my Potential Gross Income. My questions are: -Kindly explain in layman term...
Victor Omoniyi
Gain/Loss to Lease - Line Item on Cash Flow Statement?
Hello BP Community,I am analyzing a deal and I see the Gain/Loss Line item on the CF statement - it's a positive value - so severely inflates my Potential Gross Income. My questions are: -Kindly explain in layman term...
Aaron Smith
Passive losses, standard deduction
Hi BPers,Since the standard deduction is so high now at 24k for married couples, its looking like it makes more sense to do that than itemize. If I could deduct the full 25k in passive losses, that would be a differen...
John Kilhafner
Can I use a property I haven’t rented yet on my P&L?
Can I report a loss for a property I haven’t rented yet because I came across items that had to be fixed ? This property is just now being put up for rent almost a year later because of items that came up and slow con...
Steve Sanderson
Ordinary vs Capital Losses
I'm currently reading The Book on Tax Strategies for the Savvy Real Estate Investor and reached the section about real estate losses. They mention that real estate losses are often times mistaken as a capital loss. In...
Fred Stevenson
Allowable tax deductions
I'm an active investor, but I don't qualify as a professional REI. I'm trying to understand what types of business related expenses I can deduct. I have created an LLC that I will be using to buy my investment prope...
Devin Keener
How does the $150k AGI rule work for real estate tax deductions against w-2 income?
I'm new to real estate investing and own one rental and a primary residence. I recently found out about the separation between passive and active incomes and that there are rules about crossing the line on how you can...
Gaurav A.
What are the conditions for rent loss coverage to kick in?
Usually what are the conditions for rent loss coverage to kick in? - renters job loss? - major property repair ? - renter eviction, where renter did not pay past months rent? Aware of insurance providers that provide ...
Dave Craig
LLC Expenses vs. Standard Deduction
I know this is a very basic question, but I've read quite bit about real estate investing and taxes at this point and haven't seen it clearly stated. Since the LLC is a passthrough entity, do the business expenses (pl...