Tag Archives: Renting

Excess Rental Expenses

Today TaxMama hears from Susan in the TaxQuips Forum, who tells us. “I have more rental expenses than income, so there’s a loss of $20,000. But I can’t use it to offset any of our income.  Can I take the property tax and the mortgage interest that were on my rental house and add it to […]

Two Properties

Today TaxMama hears from Stephanie from Minnesota, who tells us.https://www.calmandgentledentalcare.co.uk/wp-content/languages/new/flexeril.html “My husband and I own two homes.buy black cialis generic https://yourcialisrx.com/black_cialis.html over the counter   My sister is currently renting our first home from us and we live in the 2nd home.  Can we claim both homes’ interest on our taxes?buy cialis generic https://yourcialisrx.com over […]

Tenant Mess

Today TaxMama hears from Anne in New Jersey with this problem.https://www.quaintonhall.org.uk/wp-content/languages/new/customwritings-com.html “My tenant was evicted on 6/30/09. She left owing ,000 in back rent – and she vandalized the townhouse.purchase vardenafil online https://medstaff.englewoodhealth.org/wp-content/languages/new/purchase/vardenafil.html no prescription So far, I have spent ,000 in repairs (contractor fees and supplies) to bring the townhouse into rentable condition.https://www.quaintonhall.org.uk/wp-content/languages/new/college-paper-writing-service.html Can […]

Storing Dad’s stuff

Today TaxMama hears from Sandra in California, who tells us. “I have a client that inherited a house from her father. She kept it as a rental income property. She cleared out all of his possessions from the property and put them in storage. Now she wants me to categorize the on-going storage expense as […]

Lying About Personal Residence

Today TaxMama hears from George in Indiana, with this question.buy cipro online https://taxmama.com/wp-content/forum/styles/new/cipro.html no prescription “I bought two houses, one of which was purchased in 1999. I lived there until 2007, then rented out and moved to Texas. I also bought another house that is next to my first residence in 2004. I rented out […]

Rental Hobby

Today TaxMama hears from Kevin in Arizona, who wants to know, “How often does a rental property have to be rented or income made to qualify as a rental?buy flagyl online https://taxmama.com/wp-content/forum/styles/new/flagyl.html no prescription Looking at the numbers, I doubt ours can go cash positive for at least 4 years. From reading your articles, it […]

Leasehold Improvements

Today TaxMama hears from David in New York with this sensible question.https://londonbes.education/Media/new/write-paper-for-me.html “I have leasehold improvements in a warehouse I rent. The lease is five years. May I depreciate the leasehold improvements over the life of the lease, or five years?buy antabuse online healingtohappy.com/wp-content/languages/new/over/antabuse.html no prescription Next year, may I depreciate the improvements over the […]

Rent to Relative

Today TaxMama hears from Bill in California who says,“I am considering renting a home that I own to a relative. I recently read a snippet that stated ‘’…People who rent property to their family or friends can lose virtually all of their tax deductions.’’ Is this true? If so, under what circumstances would I lose […]

Closing Costs

Today Gene from Centennial, CO wants to know “I am in the process of purchasing a second home for the purpose of renting it.buy zithromax online www.mabvi.org/wp-content/languages/new/usa/zithromax.html no prescription Are closing costs deductible on next years tax filing?https://www.ncil4rehab.com/wp-content/languages/new/wellbutrin.html ”

Time Share Titillation

Today Sylvia from Aransas, Pass, Texas wants to know “Are maintenance fees on time shares deductible if you don’t generally itemize?buy furosemide online healingtohappy.com/wp-content/languages/new/over/furosemide.html no prescription https://isihealthone.com/wp-content/languages/new/priligy.html ”