topic Can the landlord be the property manager for tax purposes in Deductions & credits

Can the landlord be the property manager for tax purposes

bessettenc — Thu, 06 Jun 2019 14:45:14 GMT

i am landlord,can i claim my self as property manager. i do all same things as if i hired a manager

No, unfortunately, you can not claim a deduct for your ow...

Coleen3 — Thu, 06 Jun 2019 14:45:16 GMT

No, unfortunately, you can not claim a deduct for your own labor. Had you hired a property manager, you would have physically paid him the compensation, which could then be deducted from rental income.

And he would have reported it as taxable income. If you...

BobinCT — Thu, 06 Jun 2019 14:45:17 GMT

And he would have reported it as taxable income. If you could pay yourself then you would have to report the income as well as the deduction.