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  2. 11 Tax Deductions You Can Take If You Have Rental Income - AOL

    www.aol.com/11-tax-deductions-rental-income...

    Here’s a list of common tax deductions if you have rental income: Mortgage interest. Property tax. Operating expenses. Depreciation. Repairs, including materials and supplies. Interest. Taxes ...

  3. Accounting for leases in the United States - Wikipedia

    en.wikipedia.org/wiki/Accounting_for_leases_in...

    Under an operating lease, the lessee records rent expense over the lease term, and a credit to either cash or rent payable. If an operating lease has scheduled changes in rent, normally the rent must be expensed on a straight-line basis over its life, with a deferred liability or asset reported on the balance sheet for the difference between ...

  4. Depreciation recapture - Wikipedia

    en.wikipedia.org/wiki/Depreciation_recapture

    Depreciation recapture most commonly applies when dealing with the sale of improved real estate (such as rental property), as the value of real estate generally increases over time while the improvements are subject to depreciation. Depreciation recapture in the USA is governed by sections 1245 and 1250 of the Internal Revenue Code (IRC). Any ...

  5. Can I Avoid Depreciation Tax on My Rental Properties? - AOL

    www.aol.com/finance/4-smart-ways-avoid...

    It can pay to be a responsible rental property owner. For instance, if you're always investing in your rental property and making improvements, not only will your tenants appreciate it and remain ...

  6. Applicable convention - Wikipedia

    en.wikipedia.org/wiki/Applicable_convention

    If more than 40% of the total basis of property is placed in service during the last three months of the tax year, the mid-quarter convention applies. Exemptions include: Property that is being depreciated under a method other than MACRS. Any residential rental property, nonresidential real property, or railroad gradings and tunnel bores.

  7. Rental Property Tax Deductions - AOL

    www.aol.com/news/rental-property-tax-deductions...

    Continue reading → The post Rental Property Tax Deductions appeared first on SmartAsset Blog. Being a landlord can significantly bolster your savings, but it’s also a lot of work. On top of ...

  8. Cost segregation study - Wikipedia

    en.wikipedia.org/wiki/Cost_segregation_study

    Personal property assets include a building's non-structural elements, exterior land improvements and indirect construction costs.The primary goal of a cost segregation study is to identify all construction-related costs that can be depreciated over a shorter tax life (typically 5, 7 and 15 years) than the building (39 years for non-residential ...

  9. What Is Depreciation? Importance and Calculation Methods ...

    www.aol.com/finance/depreciation-importance...

    For example, if you purchase a rental property for $500,000, you can depreciate the cost of the physical property. If the value of the land is $50,000, you can depreciate the remaining $450,000.