Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I am planning to buy a property to use it for commercial
I am planning to buy a property to use it for commercial renting, I have some questions about tax related to that … read more
Yaw, CPA
Yaw, CPA
6,852 satisfied customers
My husband I brought a house in 2012 and lived in it until
My husband I brought a house in 2012 and lived in it until 8/1/2018 when we rented it out. we made several improvements inducing new windows and roof. On my 2018 taxes, I think I figured the basis val… read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
6,517 satisfied customers
I was wondering if you could answer 1 or 2 questions
Hi. I was wondering if you could answer 1 or 2 questions regarding the election of Safe Harbor to cover for my $4000 Fence improvement/remodeling for my residential rental instead of capitalizing it o… read more
Rick
Rick
MBA
22,342 satisfied customers
I have rental property that I converted to personal property
Hi! I have rental property that I converted to personal property a few years ago, and now back to rental. :) How would I depreciate the property? Would I start a new depreciation schedule using FMV? P… read more
Lev
Lev
44,612 satisfied customers
Could you compute 2014 depreciation on a building, which was
Could you compute 2014 depreciation on a building, which was purchased in July 1998 for 180,000 (plus cost of improvements $200,000 from 1999 to 2008) but was converted to 2/3rd business use on Jan 1,… read more
PDtax
PDtax
Owner
Master's Degree
6,781 satisfied customers
States that my rental property's depreciation starts when
http://www.irs.gov/publications/p946/ch01.html#en_US_2013_publink1000107327 states that my rental property's depreciation starts when it makes income. Also, I can depreciate any capital improvements I… read more
Lev
Lev
44,612 satisfied customers
, I own a 1BR condominium, which is 1 unit of 20 in the building
Hi, I own a 1BR condominium, which is 1 unit of 20 in the building (about half are 1 bedroom, and half are 2 bedroom). My property tax is $1280 per year, but it does not state how much is for land vs.… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
Purchased rental home in 2013 and could not rent the property
Purchased rental home in 2013 and could not rent the property till 2014. I did approximately $14K in repairs in 2013 and did not report in 2013 since it did not rent. How or can I report these repair … read more
Lev
Lev
44,612 satisfied customers
Hi Lou. For a residential rental property put in service in
Hi Lou. For a residential rental property put in service in 2012, should we use 27.5 straight line depreciation or MACRS depreciation? In what cases do you use MACRS? In what cases use SL 27.5?… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
7,770 satisfied customers
I inherited a house in 1991 and used it as a rental after residing
I inherited a house in 1991 and used it as a rental after residing in it for several years. I did not take depreciation because I intended to sell but the market fell forcing me to hold out until pric… read more
taxmanrog
taxmanrog
Master's Degree
2,203 satisfied customers
I want to deduct depreciation every year on my my residential
I want to deduct depreciation every year on my my residential rental property that was placed in service Aug-2005. My adjusted basis @8/2005 is $252,893. (= Oct 2001 purchase price of $248,000 + $4,89… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
24,361 satisfied customers
Question about gain and loss calculations and filing 4797 and
Question about gain and loss calculations and filing 4797 and associated attachment: Assume property in California. Assume home bought with purchase money loan, no 2nds, no refis, and lender used nonj… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,230 satisfied customers
Assume residential rental. Assume FMV of total land and
Assume residential rental. Assume FMV of total land and building combined of $418,000 at time of conversion (June 2009) according to zillow.com Assume FMV of building of $226,000 and value of land of … read more
Lev
Lev
44,612 satisfied customers
1. i acquired a copy machine on Jan 15.2011 at a cost of $50000.
1. i acquired a copy machine on Jan 15.2011 at a cost of $50000. i also acquire a seven year property for $10000. I elect not to use straight line and the 179 election i also elect not to take additio… read more
Lev
Lev
44,612 satisfied customers
I am putting in Solar panels on my principal residence in early
I am putting in Solar panels on my principal residence in early 2012. There is a 30% tax credit. I share/rent a portion of the house with a person who lives in 30% of my home's area. Am I able to get … read more
Lev
Lev
44,612 satisfied customers
For my rented cottage, I understand I can depreciate the cost
For my rented cottage, I understand I can depreciate the cost over 27.5 years. Do I take the amount paid for the home or the amount owed divdied by 27.5 years? I bought the place in 2004. Rented in bo… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
24,361 satisfied customers
I have a client that bought a 4 family rental property in 2010.
I have a client that bought a 4 family rental property in 2010. How do we breakout land and building values and what depreciation method do we use for the building and closing costs… read more
Lev
Lev
44,612 satisfied customers
You buy a house in 1998 and use it as a personal residence.
You buy a house in 1998 and use it as a personal residence. In July of 2002 you move out of this house and rent it out. It's rented until November of 2007 when you move back in. And then in February o… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
24,361 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

6,077 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

877 satisfied customers

B.A., M.B.A, J.D.

Loren

Loren

Attorney

795 satisfied customers

Over 25 years practicing law

Robin D.

Robin D.

Senior Tax Advisor 4

24,361 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,667 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x