Every Landlord’s Tax Deduction Guide

E-Book Overview

Maximize your tax deductions Rental real estate provides more tax benefits than almost any other investment. Every Landlord’s Tax Deduction Guide is the only book that focuses exclusively on IRS rules and deductions for landlords. The book covers the new tax law, including the new 20% pass-through deduction and other deduction and depreciation changes that are particularly beneficial to landlords. Learn about landlord tax classifications, reporting rental income, hiring workers, and depreciation. Find out how to: handle casualty and theft losses distinguish between repairs and improvements deduct home office, car, travel, and meals keep proper tax records―and much more. Filled with practical advice and real-world examples, Every Landlord’s Tax Deduction Guide will save you money by making sure you owe less to the IRS at tax time. This new edition is completely updated to cover the new Tax Cuts and Jobs Act.

E-Book Content

“Cannot be recommended too highly …” LOS ANGELES TIMES COVERS 15TH EDITION THE NEW TAX LAW Every Landlord’s Tax Deduction Guide Current IRS rules on: • repairs • rental losses • Schedule E filings Stephen Fishman, J.D. Free Legal Updates at Nolo.com This Book Comes With Lots of FREE Online Resources Nolo’s award-winning website has a page dedicated just to this book. Here you can: KEEP UP TO DATE. When there are important changes to the information in this book, we’ll post updates. And that’s not all. Nolo.com contains thousands of articles on everyday legal and business issues, plus GET DISCOUNTS ON NOLO PRODUCTS. Get a plain-English law discounts on hundreds of books, forms, and dictionary, all written by software. Nolo experts and available READ BLOGS. Get the latest info from Nolo for free. You’ll also find authors’ blogs. more useful books, LISTEN TO PODCASTS. Listen to authors discuss timely issues on topics that interest you. WATCH VIDEOS. Get a quick introduction to a software, online apps, downloadable forms, plus a lawyer directory. legal topic with our short videos. Get updates and more at LAW for ALL www.nolo.com/back-of-book/DELL.html The Trusted Name (but don’t take our word for it) “ In Nolo you can trust.” THE NEW YORK TIMES “ Nolo is always there in a jam as the nation’s premier publisher of do-it-yourself legal books.” NEWSWEEK “ Nolo publications…guide people simply through the how, when, where and why of the law.” THE WASHINGTON POST “ [Nolo’s]…material is developed by experienced attorneys who have a knack for making complicated material accessible.” LIBRARY JOURNAL “ When it comes to self-help legal stuff, nobody does a better job than Nolo…” USA TODAY “ The most prominent U.S. publisher of self-help legal aids.” TIME MAGAZINE “ Nolo is a pioneer in both consumer and business self-help books and software.” LOS ANGELES TIMES 15th Edition Every Landlord’s Tax Deduction Guide Stephen Fishman, J.D. LAW for ALL FIFTEENTH EDITION AUGUST 2018 Editor DIANA FITZPATRICK Book Production SUSAN PUTNEY Proofreading ROBERT WELLS Index VICTORIA BAKER Printing BANG PRINTING ISSN: 1945-8770 (print) ISSN: 2325-2960 (online) ISBN: 978-1-4133-2568-3 (pbk) ISBN: 978-1-4133-2569-0 (ebook) This book covers only United States law, unless it specifically states otherwise. Copyright © 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, and 2018 by Nolo. All