Tax (by Warren631 [PA]) Feb 4, 2023 6:47 PM
Tax (by plenty [MO]) Feb 4, 2023 9:55 PM
Tax (by ned [AL]) Feb 4, 2023 10:57 PM
Tax (by Scott [IN]) Feb 5, 2023 11:29 AM
Tax (by myob [GA]) Feb 5, 2023 12:54 PM
Tax (by Oreo [WI]) Feb 5, 2023 12:57 PM
Tax (by Ray-N-Pa [PA]) Feb 5, 2023 9:32 PM
Tax (by WMH [NC]) Feb 5, 2023 9:40 PM
Tax (by Marv [IL]) Feb 6, 2023 8:52 AM
Tax (by Warren631 [PA]) Posted on: Feb 4, 2023 6:47 PM Message:
In order to rent my house I must move to a rental apartment. Can the apartment rent be considered a tax expense for my rental house? --24.126.x.xxx |
Tax (by plenty [MO]) Posted on: Feb 4, 2023 9:55 PM Message:
Ask your tax advisor. For me: I don't think so. --172.56.xx.xx |
Tax (by ned [AL]) Posted on: Feb 4, 2023 10:57 PM Message:
Crafty.
But I'd bet a big fat no.
You gotta' live somewhere regardless. --70.92.xx.xx |
Tax (by Scott [IN]) Posted on: Feb 5, 2023 11:29 AM Message:
Creative accounting like that landed billionaire Leona Helmsley in prison. Her most famous quote was "We don't pay taxes; only the little people pay taxes" --107.141.xx.xxx |
Tax (by myob [GA]) Posted on: Feb 5, 2023 12:54 PM Message:
And this is why we are getting 87,000 new IRS agents! --108.239.xx.xx |
Tax (by Oreo [WI]) Posted on: Feb 5, 2023 12:57 PM Message:
Don't think so, but do check with your tax advisor. Mine said we could use our property down the block as a second home and take the expenses that go with that. ??? I need to discuss that further with him to sink in. --75.11.xx.xx |
Tax (by Ray-N-Pa [PA]) Posted on: Feb 5, 2023 9:32 PM Message:
It can't, but you might want to brush up on 121 Exchanges. This could save you some tax money in the scenario you are asking about --24.101.xxx.xxx |
Tax (by WMH [NC]) Posted on: Feb 5, 2023 9:40 PM Message:
The expenses that go with a second home are the mortgage interest, just like your first home. Or if you did an energy upgrade during a year they were offering a credit (which you can't do on a rental.) Otherwise, not much tax benefit to a second home. --50.82.xxx.xxx |
Tax (by Marv [IL]) Posted on: Feb 6, 2023 8:52 AM Message:
If you don't own the new aprt you are renting, you may be able to take an office in home expense.
You cannot deduct the whole rent because it is your residence. --67.184.xxx.xxx |
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