Nolo

Every Landlord's Tax Deduction Guide Nolo

Maximize your tax deductions





Rental real estate provides more tax breaks than almost any other investment. Understanding and taking advantage of all the tax breaks available for landlords can make the difference between earning a profit and losing money. But the majority of the nation's 10 million landlords own only one or two units and can't afford high-priced tax advice from experts. Every Landlord's Tax Deduction Guide provides landlords with the tax information they need.





This edition has been completely updated to cover all the latest changes in the tax laws brought about by COVID-19 relief legislation. It includes information on how landlords can deduct rental losses caused by the pandemic, sick leave and family leave tax credits for self-employed landlords, employee retention credit, and tax-free treatment of landlord PPP loans.





This book also explains:


how landlord businesses are legally organized
how to maximize depreciation deductions
distinguishing between repairs and improvements
handling casualty and theft losses
deducting home office, car travel, and meals
how to benefit from real estate professional status
hiring workers
taking advantage of the 20% pass-through tax deduction
how to keep property records, and
filing the landlord tax form: IRS Schedule E.





And a new section explains the ins and outs of getting paid and paying others with Bitcoin or another cryptocurrency and what it means for your taxes.
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