taxmodern
Level 4
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Tax professional specializing in tax consultation for rental real estate.
Link to my Website
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I agree with the other reply here that says you'll need to probably depreciate it.And unfortunately, HVAC equipment is depreciated on the same schedule as thing...
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4. When asked about your participation, indicate that you materially participate in the rental.5. Provide details on rental use, including your average stay bei...
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That's all generally correct, I would just add that some types of flooring can be depreciated over 5 years if it's carpet or removable flooring that isn't consi...
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Is using the placed-in-service date (when the property became available for rent) rather than the purchase date the correct starting point for depreciation?Yes....
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There hasn't been a change regarding this, so the same rules still apply.You mentioned that you have other rental properties.Maybe what you're seeing is the los...
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- Cheered Re: Can I deduct fees for tax preparation software or professional tax preparer expense on schedule E for rental property? for maglib. 3 hours ago
- Posted Re: We replace the furnace in our rental property. Is this a maintenance expense or considered an asset improvement? on Investors & landlords. 2 weeks ago
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- Got Cheered for Re: How can I deduct my short term rental losses against my W2 income? I materially participate i.... 2 weeks ago
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- Posted Re: Turbotax is deducting all of my Schedule E losses, even though it exceeds the $25K threshold - why? on Investors & landlords. February 26, 2026 11:01 AM
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- Got Cheered for Re: How do I get Turbo tax to classify me as a material participant in a rental property?. February 25, 2026 2:06 AM
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- Cheered Re: Short-Term Rental (Avg Stay < 7 Days) Showing as Passive in TurboTax Online – How to Mark Non-Passive? for AmeliesUncle. February 22, 2026 12:22 PM
- Posted Re: How do I get Turbo tax to classify me as a material participant in a rental property? on Investors & landlords. February 22, 2026 12:16 PM