Do you do your own taxes? Or is this the first Tax year owning a Rental?

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Jul 7, 2024
8:59:25am

JohnnyC All-American

This message has been modified

Originally posted on Jul 7, 2024 at 8:59:25am

Message modified by JohnnyC on Jul 7, 2024 at 9:17:25am

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JohnnyC

Previous username: DumBass
Bio page: JohnnyC
Joined: Aug 13, 2019
Last login: Jul 15, 2024
Total posts: 12,521 (389 FO)

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Messages

Author

Time

Rental Property Tax Deduction Question

Zombre

Jul 7, 8:50am

Like, all $15 of it?

NanoFab Coug

Jul 7, 8:52am

I buy 4 or 5 bags at a time along with air filters for the furnace. Probably $85

Zombre

Jul 7, 8:53am

It’s a legitimate expense for your rental. No problem deducting that.

LaserCoug

Jul 7, 8:55am

Thanks!

Zombre

Jul 7, 9:06am

Do you do your own taxes? Or is this the first Tax year owning a Rental?

JohnnyC

Jul 7, 8:59am

this will be the first tax year

Zombre

Jul 7, 9:06am

I would suggest hiring one….they will be able to identify all the cash and

JohnnyC

Jul 7, 9:15am

Yeah, legitimate deduction.

citron

Jul 7, 9:05am

Deduct everything. When in doubt, deduct

Cougrrrs Roll

Jul 7, 9:31am

Anything that you pay for on behalf of your tenants that they don't reimburse

Bainge

Jul 7, 9:42am

You can also deduct replacing carpet and repairing garage doors.

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