RENTAL REAL ESTATE DEDUCTION CHECKLIST:
Owners of rental properties have an array of possible expenses that are deductible against their rental income.
Advertising
Alarm/Security Service
Association Fees
Auto
Bookkeeping
Cable service
Casual Labor
Cleaning
Commissions Paid
Credit Check on potential tenants
Dues
Gifts
Insurance-Property
Insurance-Flood
Insurance-Private Mortgage
Interest on mortgage
Keys
Lawn care
Legal fees
Licenses
Lock Box
Maintenance
Meals
Management fees
Notary
Office supplies
Pest Control
Pool Service
Postage
Publications
Referral fees
Rent for equipment, machinery, tools
Repairs
Subscriptions
Storage
Supplies
Taxes-Real Estate
Tools
Travel Away From Home
Utilities
CAPITAL EXPENDITURES (MAJOR ADDITIONS, BETTERMENTS, IMPROVEMENTS, ETC.) WHICH GENERALLY MUST BE DEPRECIATED:
TAX TIP: There are ways to currently deduct (instead of depreciating) some of these items.
Bathroom
Bedroom
Deck
Foundation
Garage
Patio
Pool
Porch
Land Improvements:
Driveway
Fencing
Landscape
Sprinkler System
Walkway
AC/Heating:
Air/Heat System
Duct Work
Filtration System
Plumbing:
Plumbing Rework
Septic System
Soft-Water System
Water Heater
Interior:
Carpeting
Curtains
Drapes
Flooring
Kitchen Remodel
Windows
Insultation;
Attic
Floors
Pipes
Walls
Furnishings:
Furniture
Lighting
Walls
Appliances:
Dishwasher
Dryer/Washer
Garbage Disposal
Microwave
Refrigerator
Stove
Television
Electrical:
Fuse Box
Outlets
Wiring
For a FREE, CONFIDENTIAL, NO-OBLIGATION TAX CONSULTATION CALL 561-746-1926 or 561-339-8102