Investors & Landlords Tax Forum Q&A

My 1099misc has prepaid rent in it, how do i adjust it

by on Latest post on by

3 Replies 5093 Views

3 Replies

5093 Views

What category is my finished basement for a rental property in depreciation process?

by on Latest post on by

1 Reply 2465 Views

1 Reply

2465 Views

Step up cost basis for an inheritance

by on Latest post on by

6 Replies 4058 Views

6 Replies

4058 Views

If I received income from sand/gravel extraction (reported as royalty on 1099 MISC form), is it Mineral Property or Other?

by on Latest post on by

1 Reply 4150 Views

1 Reply

4150 Views

I currently rent out my condo so I'm filing Schedule E. Can I deduct my car taxes and registration if I use it to collect rent?

by on Latest post on by

1 Reply 3355 Views

1 Reply

3355 Views

Do I need to capitalize rental expense of $4600 to replaster swimming pool? Would this be a repair or improvement? What category is a new pool heater capitalized under?

by on Latest post on by

1 Reply 3213 Views

1 Reply

3213 Views

I bought a rental property for $5000 but it had $8000 in back taxes. I put 10,000 in it to make it livable. Can add up all my expenses to claim depreciation on my taxes.

by on Latest post on by

1 Reply 1181 Views

1 Reply

1181 Views

If I rent my studio (commercial building not my house) to other artists occasionally. How do I claim this income. Is it part of my schedule C or is there a better way?

by on Latest post on by

1 Reply 1183 Views

1 Reply

1183 Views

I have 7 rental properties. Why, when I add some of my legitimate expenses for the last one or two of the buildings, my "taxes due" number increased by about $2,000?

by on Latest post on by

1 Reply 1237 Views

1 Reply

1237 Views

NJ resident in 2017 I spent 2018 abroad while having a rental income in FL. Do I need to file any state taxes in NJ/FL or is the rental income on my federal taxes enough?

by on Latest post on by

1 Reply 1121 Views

1 Reply

1121 Views

Do I need to capitalize $6500 spent to re-sod, replant shrubs, and repair (not replace) sprinklers for a lawn? Not sure if this counts as new landscaping or repair.

by on Latest post on by

1 Reply 6049 Views

1 Reply

6049 Views

Do I need to capitalize a rental expense of $16,000 to replace the underlay of leaky roof? Had to relay tiles. Is this a repair or an improvement? Count as new roof?

by on Latest post on by

1 Reply 1298 Views

1 Reply

1298 Views

I sold Oil royalties in Oklahoma in 2018 and I am a resident of Arizona, where should I report the income from the oil royalty sale?

by on Latest post on by

1 Reply 947 Views

1 Reply

947 Views

If My adjusted income is 155,000.and I sold a 2nd home for a net profit of 430,000 is that amt added to my ordinary adjusted income and all taxed at the combined rate?

by on Latest post on by

1 Reply 959 Views

1 Reply

959 Views

I bought a condo to use as a vacation rental in July 2018. It needed a lot of repairs and wasn't rented at all. Can I write off repairs on 2018 taxes?

by on Latest post on by

3 Replies 2118 Views

3 Replies

2118 Views

Can i carry gifted land held 20 years directly to my schedule D and use my carry over long term loss and pay capital gains tax on the balance?

by on Latest post on by

4 Replies 1691 Views

4 Replies

1691 Views

Expert does your taxes

Do it yourself

Resources

Support

Topics with Label: TurboTax Premier Android

My 1099misc has prepaid rent in it, how do i adjust it

What category is my finished basement for a rental property in depreciation process?

Step up cost basis for an inheritance

If I received income from sand/gravel extraction (reported as royalty on 1099 MISC form), is it Mineral Property or Other?

I currently rent out my condo so I'm filing Schedule E. Can I deduct my car taxes and registration if I use it to collect rent?

Do I need to capitalize rental expense of $4600 to replaster swimming pool? Would this be a repair or improvement? What category is a new pool heater capitalized under?

I bought a rental property for $5000 but it had $8000 in back taxes. I put 10,000 in it to make it livable. Can add up all my expenses to claim depreciation on my taxes.

If I rent my studio (commercial building not my house) to other artists occasionally. How do I claim this income. Is it part of my schedule C or is there a better way?

I have 7 rental properties. Why, when I add some of my legitimate expenses for the last one or two of the buildings, my "taxes due" number increased by about $2,000?

NJ resident in 2017 I spent 2018 abroad while having a rental income in FL. Do I need to file any state taxes in NJ/FL or is the rental income on my federal taxes enough?

Do I need to capitalize $6500 spent to re-sod, replant shrubs, and repair (not replace) sprinklers for a lawn? Not sure if this counts as new landscaping or repair.

Do I need to capitalize a rental expense of $16,000 to replace the underlay of leaky roof? Had to relay tiles. Is this a repair or an improvement? Count as new roof?

I sold Oil royalties in Oklahoma in 2018 and I am a resident of Arizona, where should I report the income from the oil royalty sale?

If My adjusted income is 155,000.and I sold a 2nd home for a net profit of 430,000 is that amt added to my ordinary adjusted income and all taxed at the combined rate?

I bought a condo to use as a vacation rental in July 2018. It needed a lot of repairs and wasn't rented at all. Can I write off repairs on 2018 taxes?

Can i carry gifted land held 20 years directly to my schedule D and use my carry over long term loss and pay capital gains tax on the balance?

Do you have a TurboTax Online account?

Topics with Label: TurboTax Premier Android