Appreciate the response, Vanessa. Almost ready to give up, but my son found and sent me this excerpt from tax guidance for landlords:
Safe Harbor for Small Taxpayers
The safe harbor for small taxpayers (SHST) allows landlords to currently deduct all annual expenses for repairs, maintenance, improvements, and other costs for a rental building. However, the SHST may only be used for rental buildings that cost $1 million or less. And the annual SHST deduction is limited to the lesser of $10,000 or 2% of the unadjusted basis of the building. This limit is determined on a building by building basis—for example, if you own three rental homes, you apply the limit to each home separately.
Does this NOT apply to the circumstances that I outlined?
Thanks
