Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

1
Posts
3
Votes
Anna Likhacheva
3
Votes |
1
Posts

CPA to help with first STR

Anna Likhacheva
Posted

We want to invest in a second home near lake Tahoe to use as a family vacation home. To offset expenses, we want to rent it out as STR. We want to take advantage of Cost Segregation and Accelerated Depreciation in 2024 and file losses under schedule C during the first year. This all requires some in depth knowledge of tax law. What is the best way to find a CPA who will be interested in taking an active role in something like this?

Thanks in advance.

Most Popular Reply

User Stats

8,392
Posts
3,883
Votes
Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • New York, NY
3,883
Votes |
8,392
Posts
Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • New York, NY
Replied

A couple of things

1) If it is a secondary home, there are potential restrictions from a tax perspective if you live in the house for more than 14 days.
2) losses may potentially be reported on schedule E instead of Schedule C.

business profile image
Basit Siddiqi CPA
4.8 stars
77 Reviews

Loading replies...