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Results (10,000+)
Philip Price Tax questions for house hacking with short term rentals
13 March 2021 | 0 replies
I have calculated the correct amounts of depreciation and my deductions, but my normal tax software (freetaxusa) is too basic to handle these calculations.
Rachel H. First Walkthrough w/ Leaving Tenants
17 March 2021 | 6 replies
We get the keys of course and send them their security deposit minus any deductions with an accounting.
Liam Tennies Finding a CPA for a House Hacker
16 March 2021 | 5 replies
You're also going to want to look for someone who educates you on the process and understands your overall tax strategy (i.e. do I want to take the most deductions now or can you take more later to potentially get additional financing).
Michael Plante real estate professional tax designation deductions?
16 March 2021 | 0 replies
I am probably going to file as a Real Estate Professional this year rather than try to get long term capital gains or even short term I’m flipping too many houses and believe I will be seen as in business and not doing this as a passive investment I definitely qualify and keep a detailed log of activities and it will be well over the 750 hours required Besides depreciation what are Real Estate Professionals allowed to deduct?
Betty Klein tenant breaking lease but wants full deposit
17 May 2021 | 8 replies
There were cleaning , landscaping and damage expenses deducted from her deposit.
Michael Plaks Recordkeeping for a mixed business/personal trip
1 April 2021 | 11 replies
Incidentals like cash tipsThey are deductible.
Addy Cash New investor: $350K investment in real estate
17 March 2021 | 1 reply
Also, this doesn't factor in any losses or deductions, and a CPA will tell you if you have any liabilities to pay during a 1031.
Hiram Lopez Wholesale Question About Sellers
17 March 2021 | 2 replies
Basically just deduct it from her profit.
Erik J Courson Charitable contribution as part of real estate contract
17 March 2021 | 0 replies
Would this contribution have to go into the expenses related to the purchase of the house, thus depreciated over 27.5 years, or would this be treated as a standard, deductible contribution, same as any other?
Nirav Patel 1099 form when paying with venmo
21 January 2022 | 2 replies
The duplex required new (AC, electrical panels, etc) I do want to utilize all the tax benefits and deductions from the expenses.