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Is an interior door an expense or improvement on a rental property?
Wiki User
∙ 12y ago
Expense - rouine maintenance and upkeep.
Wiki User
∙ 12y ago
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Is equipment rental an expense?
Yes if equipment is leased on rent then rental payment is expense through income statement of that specific fiscal year.
What is the Depreciation of a replacement air conditioning unit on rental property?
If the rental property is residential rental property, depreciate over 27.5 years. If this is non-residential rental property, depreciate over 39 years.
Can you deduct property taxes on a rental property?
Yes
What documents are needed to file a tax return if you own a rental property?
Rental real estate income and losses are entered on line 17 of Form 1040 for 2009. The figure that you enter on that line comes from Form 1040 Schedule E (Supplemental Income and Loss). Generally, your biggest expense for rental property is depreciation. So you'll be attaching Schedule Eand Form 4562 (Depreciation and Amortization) to your Form 1040.
Does every rental property involve a rental property tax?
In the U.S., property taxes are generally paid by property owners. Renters generally pay a fixed monthly amount to the landlord/proprietor with no tax added.
Is the mortgage of a rental house considered a business expense?
yes. along with repairs to the property.
Is property rental expense deducted 100 percent?
Yes but it is easier if you have it in an S Corporation or an LLC.
Is a deck attached to commercial rental property by the tenant considered a trade fixture?
No, it is considered a capital improvement to the real estate.
Is equipment rental an expense?
Yes if equipment is leased on rent then rental payment is expense through income statement of that specific fiscal year.
What is the Depreciation of a replacement air conditioning unit on rental property?
If the rental property is residential rental property, depreciate over 27.5 years. If this is non-residential rental property, depreciate over 39 years.
What would I say my profession was if I owned apartment complexes?
landlordowner of rental propertylandlordowner of rental propertylandlordowner of rental propertylandlordowner of rental property
Can I deduct mortgage interest on rental?
Yes, it is NOT a personal deduction, but will be an expense against the income...on either your schedule C or I, depending on how your handling the property 9as a business or as an investment).
Can a landlord lose his rental property because of unpaid medical bill liens?
Generally, yes- if the following three factors apply: he is the owner of the property; a creditor has obtained a judgment lien; the lien is for an amount great enough to warrant the expense of taking possession of the property.
Where can one get rental property loans?
Many people are considering taking advantage of the current economy and get rental property loans. One can get rental property loans from one's local bank.
Can you get refinanced if the property is rental property?
It is possible to get refinanced for a rental property. The type of refinance would be called non-owner occupied real estate. Rates are often higher for rental property because they are not your primary residence.
Can you deduct property taxes on a rental property?
Yes
does the state os sc have winterizing grants for rental property?
does the state of sc have winterizing grants for rental property
