Great video as always. A question related to cost seg: If AGI at line 11 on 1040 is negative due to cost seg, what is the taxable income at line 15? Is line 12 standard deduction not be used and wasted due to using cost seg? Please verify if I am wrong
This loophole should be stopped... Depreciation is meant to be used to improve or maintain the building over time, NOT to make someone rich and evade taxes. Im in Florida and we literally have buildings falling down due to people deferring maintenance on these buildings. And it's funny, after the 27 years of deprecating a building they are the same people that will try sell that home for retail or market value like they've been maintaining it the whole time. This is the main reason Trump is in office. It's to keep this one loophole so he is able to evade taxes. Hooray for deprecation!!!!
Hey Sherman , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
Thanks for another informative video! You really help breakdown these complicated topics! 🙏🏻
Great video as always. A question related to cost seg: If AGI at line 11 on 1040 is negative due to cost seg, what is the taxable income at line 15? Is line 12 standard deduction not be used and wasted due to using cost seg? Please verify if I am wrong
This loophole should be stopped... Depreciation is meant to be used to improve or maintain the building over time, NOT to make someone rich and evade taxes. Im in Florida and we literally have buildings falling down due to people deferring maintenance on these buildings. And it's funny, after the 27 years of deprecating a building they are the same people that will try sell that home for retail or market value like they've been maintaining it the whole time. This is the main reason Trump is in office. It's to keep this one loophole so he is able to evade taxes. Hooray for deprecation!!!!
Great video. Could you make an example of how to own a business with passive income that offset passive loss on rental business?
Hey Sherman , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
legend
So I’m a realtor full time, and so if I have a rental property I can consider the passive losses as ordinary losses just because of that?
Thank you for simplifying this concept!
My pleasure. Hope it helps
Thank you for explaining this complex topic so simply 🙌