Form 1098: Each year, you’ll receive a Form 1098 showing how much mortgage interest you paid on the property. If you don’t report this interest on your tax return, it could raise a red flag and ...

Learn how to use IRS Form 4562 to claim depreciation and amortization deductions for business property. Understand the criteria, asset types, and filing process.

The One Big Beautiful Bill Act, which was signed into law in July, created several new tax provisions and made changes to ...

3. Fill Out Form 4562 When you claim the depreciation deduction on a rental property, you must also fill out Form 4562, which will let you deduct a portion of the property’s cost over a 27.5-year ...

If you’re a new real estate investor, you might ask yourself, “Will the IRS know about my rental income?” The answer is simple: Yes, the IRS will know if you have rental income. And if you try to ...