Today TaxMama hears from Charles in the TaxQuips Forum.buy canadian vardenafil online cpff.ca/wp-content/languages/new/canadian/vardenafil.html no prescription He tells us “I am going to rent my second home to some people starting in June. It will have some furnishings that we will allow them to use. Our personal property that we don’t want them to use will […]
Category Archives: Rental Properties
Today TaxMama hears from Bloomers in the TaxQuips Forum. She is renting out the rooms in her 5-bedroom house. Bloomers asks. “What are the laws for renting out rooms? If the amount I am making in rent every month, on average, does not amount to the total cost of the mortgage and house expenses, is […]
Today TaxMama hears from Tom in the TaxQuips Forum who wants to know. “Does anyone know if there are any tax breaks if the owner lives in one of the units of a 4-unit apartment building? The owner moved into the unit after 5 years of owning the building.buy furosemide online www.parkviewortho.com/wp-content/languages/new/prescription/furosemide.html no prescription ”
Today TaxMama hears from Bill in the TaxQuips Forum with a common misconception. “I have a W-2 through my employer and contribute to their 401k plan. I also have $30,000 net rental income from Schedule E as a sole proprietorship. Can I contribute to a SEP or any other type of retirement plan to shelter […]
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 […]
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Today TaxMama hears from Shaunna in Washington State, who tells us. “I own a small rental business. Is the bounce castle I rent out considered an asset or inventory?”
Today TaxMama hears from Jon in California, who has this plan. “I am going to refinance my current residence for $338,000. I will use $140,000 of that to pay off the existing mortgage. The remainder will be a down payment on my next house. The next house will be my primary residence; the current house […]
Today TaxMama hears from Sandra in Texas, with this unusual situation. “I owned two rental properties; but one was accidentally torn down by the city. It had damage due to hurricane Ike. Can I take the value of this property off my taxes? Can I take it as a loss?”
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 […]
Today TaxMama hears from Catherine in the United Kingdom. “I am a US citizen, employed by a UK employer and living and working in the UK where I pay taxes. I own an apartment in NY which I rent out. I report the rental income on my US tax return. Must I report my UK […]
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 […]