Tax preparation for landlords
Quick answer: Rental returns reward people who track everything and punish people who guess. Depreciation, repairs versus improvements, and passive loss rules decide your bill. We build the schedule right the first time so every future year is easier.
Depreciation, captured fully
The building, appliances, and improvements each depreciate on their own clocks. Missed depreciation is money left every single year.
Repairs vs improvements
A repair deducts now; an improvement depreciates over years. Classifying correctly is one of the highest-value calls on a rental return.
Passive loss rules
Losses may be limited by income level and participation. We check the active-participation allowance and real estate professional rules.
Travel and mileage
Trips to the property for management, maintenance, and tenant issues count, with records.
Multi-property, multi-state
Out-of-state rentals add nonresident filings. We handle the stack in the right order.
Sale planning
Depreciation recapture and exclusion rules decide your bill at sale. The cheapest time to plan is years before listing.
Educational overview, not tax advice. Every deduction here has rules and limits, and a real preparer reviews your actual situation before anything is filed.
My rental shows a loss. Do I still file it?
Yes. Reporting the loss preserves it. Depending on income and participation you may deduct up to the allowance now or carry it forward to offset future profits or the eventual sale.
Is a new roof a repair?
Generally an improvement that depreciates over years, not a repair deducted at once, though partial replacements and safe-harbor elections can change the answer. This is exactly the kind of call we review document by document.
What if I have never claimed depreciation?
The IRS treats it as taken whether or not you claimed it, so skipping it only hurts you. A catch-up filing can often recover missed years in one return.