|
Welcome back! What did you think of our Property Management Software?
Are you subscribed to our feed and receiving email updates? |
Rental Property Tax Deductions
Selling your own home can be intimidating process if you don’t know where to start, and selling an investment property requires even more work. Forbes has a great article that simplifies the taxation issues involving the sale of investment real estate. Accidental landlords who were forced to hold on to their real estate due to the financial crisis may want to unload their properties and minimize their taxes.
The capital gains due to profit on the sale of the real estate property are increased by recapture of depreciation expenses that were reported on the rental property income and expenses. If the property is being replaced by another investment property, accidental landlords can take advantage of a 1031 tax exchange to defer their taxes. The article explains the tax implications with examples on how to reduce your taxes.
Find out how to sell your rental property for a profit.
CLICK HERE to read story
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Tax Reduction Tips for Accidental Landlords is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
- 2010 Tax Tips for Landlords, Real Estate Investors not renting for profit If you do not rent your property to make a profit, you can deduct your rental expenses only up to the amount of your rental income. You cannot deduct a......
- 2010 Tax Tips for Accidental Landlords, Real Estate Investors who rent a room If you rent part of your property, you must divide certain expenses between the part of the property used for rental purposes and the part of the property used for......
- Accidental Landlords – Success tips from an expert You might have a house you can’t sell. It could be the one you live in, and it might be the one you bought as an investment at the peak......
