The National Directory of Certified Public Accountants

Ask A CPA - Rental Expenses

1. Are my prior years disallowed passive losses lost when I sold my rental property this year?

2. Are my rental losses fully deductible?

3. Are the costs for improving and repairing my house deductible?

4. Are the costs of buying and installing my burglar and smoke alarms deductible?

5. Are the Lawyer fees I paid at my residence property closing deductible?

6. Are the legal fees I paid to evict a tenant from my rental property deductible?

7. Are the total closing costs I paid when I purchased my house deductible?

8. Are the travel costs I incur to monitor my rental property deductible?

9. As a Minister , is the rental allowance I receive taxable to me ?

10. As a Rabbi , is the rental allowance I receive taxable to me ?

11. Can I deduct all the fees I paid at my house closing as deductible points?

12. Can I deduct the cost of my trip to look at a rental property upstate?

13. Can I exchange U.S. real estate for real estate in a foreign country tax free?

14. Depreciation - Residence

15. Does the cost of putting a new roof on my rental property a deductible repair ?

16. I rent my home out for two weeks each year. Do I have to show the rental income on my tax return ?

17. Is the advanced rental income I received reportable in the current year?

18. Is the amount I pay for maintenance on my timeshare deductible ?

19. Is the amount I pay for rent deductible ?

20. Is the cost of Land depreciable ?

21. Is the net income from my rental property subject to Self-Employment tax ?

22. Is the rental income I received for renting my home for 10 days taxable?

23. Is the security deposit I received on my rental property taxable in the current year?

24. Is the sewer assessment I received on my rental property deductible?

25. Rental Properties - What is Active Participation ?

26. What is the adjusted basis of my rental property?

If you need professional help with "Rental Expenses" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.