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If my Schedule E loss is disallowed for a rental property
If my Schedule E loss is disallowed for a rental property (due to income level), can I take the mortgage interest and real estate taxes paid on Schedule A instead of on Schedule E?The entire expense a… read more
Chad EA, CDFA®, CFP®
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Married filing joint, Adjustec income 183,000...2 Rental properties and took losses on both... I'm being told that because of our Income we can't claim losses on income... It's considered passive inco… read more
Lev
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Dear Tax Professional, If a taxpayer that have 5 properties
Dear Tax Professional, If a taxpayer that have 5 properties in the LLC, but overall, on their LLC tax return, it indicates a net loss. During the year, they have about $30k in their AGI with two depen… read more
Anne
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I am married and file long forms jointly with my husband and
I am married and file long forms jointly with my husband and take the mortgage deduction. We are planning on converting our primary residence to a rental and will be moving 160 miles away and intend t… read more
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My wife and I are interested in purchasing a work / loft property.
My wife and I are interested in purchasing a work / loft property. We own a house and would either use the loft as a studio or rent it out. Are there are any tax advantages with a combined income of 1… read more
Lev
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I have a retnal property that has a negative cash flow greater
I have a retnal property that has a negative cash flow greater than the amount of property tax that I am paying. Can I deduct the rental property tax on my personal return instead of the Schedule E?… read more
Robin D.
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Hello, We live in a house on the grounds of A Botanic Garden
Hello, We live in a house on the grounds of A Botanic Garden where my husband works. It is a requirement of his employment contract so that there is staff person there 24/7. Are any of our housing, ut… read more
Merlo
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We purchased an investment home in 2006. My children lived
We purchased an investment home in 2006. My children lived in it a few months, then a friend moved in but didn't pay rent. In 2008 I sold her the house inofficially, for monthly payments of $500 plus … read more
Robin D.
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If I have a rental property in the UK but the costs of upkeep,
If I have a rental property in the UK but the costs of upkeep, service charges, property taxes, utilities, management and agent fees exceed the rental income, do I have to declare any income and can I… read more
Merlo
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We tried to sell our home in 2009, couldnt ending up renting
We tried to sell our home in 2009, couldn't ending up renting it for $800 less than our mortgage. Since I claim the rent as income is there any way to count the $800 as a loss somehow?… read more
RD
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I received a 1099 MISC with the amount in box 3. The payment
I received a 1099 MISC with the amount in box 3. The payment was for a loss of rental income during construction from a covered loss. How do I report this properly on sch E. Is Scd E ok even though bo… read more
Anne
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If I rent my house out and hire a property manager, are the
If I rent my house out and hire a property manager, are the Mgmt fees deductible as well as maintenance costs (repairs), mortgage interest and other costs to keep the tenant in the property, or at lea… read more
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I have a house I would like to rent, but the rental income
I have a house I would like to rent, but the rental income would only cover one half the mortgage I pay on the property. I have never rented before and am wondering what tax deductions are like?… read more
RD
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I own a home in a different state than I live and still have
I own a home in a different state than I live and still have a mortgage. I rented it out last spring and my tenants have not been paying rent. I need to know if I have to file that I own rental proper… read more
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We own a one bedroom condo in addition to our single family
We own a one bedroom condo in addition to our single family home. We rent the condo and understand that we need to report rental income on our taxes. However, it is rented at a loss (less than the mor… read more
RD
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we bought a condo as a second home...our son may stay in it
we bought a condo as a second home...our son may stay in it occasionally as his office is nearby ...we do have a small mortgage on our main home residence.....question is...can we deduct the mortgage … read more
Ed Johnson
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how to deduct my realestates losses if my icome above 125000
i have rental properties and my income above 125k per year. For the last 7 years I have put them in schedule C. Now my income above 125k how can I deduct the losses. Thanks… read more
RD
RD
Self Employed
Master's Degree
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I am going to buy a home as an investment in CA. I will ...
I am going to buy a home as an investment in CA. I will rent it for about $600 less than the monthly mortgage including property taxes. I am married and our combined income is about 127k annually. Wil… read more
Lev
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