Deduct everything. When in doubt, deduct

Sign up, and you can customize which countdowns you see. Sign up

Report problem with this ad

Jul 7, 2024
9:31:58am

Cougrrrs Roll Political Junky

Deduct everything. When in doubt, deduct

That is the advice I get from my tax people.

Report problem with this ad

Cougrrrs Roll

Bio page: Cougrrrs Roll
Joined: Aug 11, 2006
Last login: Oct 5, 2024
Total posts: 49,237 (2,743 FO)

Report problem with this ad

Messages

Author

Time

Rental Property Tax Deduction Question

Zombre

Jul 7, 8:50am

Like, all $15 of it?

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

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.

Jul 7, 9:47am

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad