Edita D.
Standard meal allowance deduction.
Hey guys!
For meal expenses while traveling overnight for a rental activity, one can use either an actual expense method for meals or standard meal allowance (utulizing per diem rates. See here http://www.irs.gov/pub/...
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...
Navid A.
Deducting Business Expenses & the Standard Deduction
If you're employed with a W2 Salary and are investing in rental properties under a LLC (disregarded entity), would you even be able to make deductions if they add up to be less than the standard deduction on your pers...
Jamie Brayton
Standard deduction and rental properties
Can anyone shed light on how/if taking the standard deduction impacts rental property deductions? I run an unrelated business from home as a sole proprietor that will be impacted by the change, but my understanding is...
Scott French
K1 Loss with Standard Deduction
I have an LLC with 2 partners, which holds a multifamily property. I have no dependents/mortgage/student debt/etc. so I am still under the standard deduction.
My question is, what happens to the K1 loss that...
Steve N.
The Standard Deduction exceeds Itemization
I have 2 rental properties. I have mortgages on each and am depreciating each. I am taking deductions for everything including travel (relatively local) and meals, plus the obvious like repairs, cleaning, etc.
...
David Epstein
Real Estate Investor - Standards Deduction?
BP friends,Just want to get your take on things: I am fairly meticulous when it comes to record keeping (or at least record keeping catch up around tax time) and still find myself looking at a better deduction using s...
Gagan P.
Depreciation Carryforward vs Standard Deduction
Just had a random question pop up into my head.
Given that the IRS requires depreciation to be taken each year, what if a person's only income is rental income, and the AGI, is below the standard deduction amount. Ca...
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...
Paolo F.
Standard deduction for Non Resident Aliens
With the new tax reform, Personal Exemption was eliminated. Can we Non Resident Aliens use Standard Deduction now, as it is the only one left and in theory it should group the old Personal Exemption?