As a multi-family residential property owner, you want to ensure your property is full of happy tenants and that you're making a good profit.
When you acquire a rental property, the IRS permits you to allocate the property's cost over its useful life, enabling a reduction in your taxable income—a benefit commonly known as the depreciation deduction.
If you are a rental house owner, you may be able to deduct up to $25,000 of losses from your rental real estate activity from your nonpassive income.
Understanding rental expenses is crucial for landlords. These expenses can be deducted from your rental income and include costs like insurance, taxes, maintenance, and interest.
