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 […]
Tag Archives: Renting
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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 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 […]
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 […]
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 […]
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 […]
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 […]
Today TaxMama hears from Sylvia from Aransas, Pass, Texas wants to know “Are maintenance fees on time shares deductible if you don’t generally itemize?”
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