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If my husband and i have two rental properties can we deduct…

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If my husband and i...
If my husband and i have two rental properties can we deduct expenses on both properties whether or not we file married jointly or separately?
Submitted: 2 years ago.Category: Tax
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2/12/2016
Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,390
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello

Yes you can deduct the expenses but the method will be a little different based on how you file.

If joint of course all are claimed on the Schedule E and carried to your 1040 joint return.

If you file separate you split the income and expenses with each reporting the Schedule E with their own return.

After you view my response, please post below if you need more information BUT if you need no further clarification a positive rating is appreciated.
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago

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