Carroll Tax Firm

When you convert your former residence to income-producing use then your rental depreciation deduction is based on the lower of the...

By rental losses, I mean that your rental expenses (after allocating between rental and personal expenses) exceed your rental income. You...

When you sell your rental property, you will be taxed on any capital gains from the sale. Capital gains for this questions include the...

If the property is available for rent (as in uninhabited), then, yes, you can deduct your ordinary and necessary expenses against your...

Yes, but the rent amount must be close to the fair market value ("FMV") for a property of a similar size, type, location, and condition. ...

The limited liability company will provide protection from contract based debt against personal assets of the owner of a single or...

In general, you can deduct expenses that are ordinary and necessary to operating a residential rental property. However, expenses for...

A personal use day is any day that you're using the property or anyone else is using the property for less than a fair rental price. (Or yo