30 Tax Write-Offs for Landlords & Real Estate Investors
As a landlord, you understand the value of passive income and low-effort earnings. So you’ll love when we tell you that there’s a simple way to turn your business expenses into savings, without any extra effort on your part! Ready?
Simply write off the expenses your business runs into every day. By claiming the following write-offs for landlords, you’ll put those bills to work for you, making them earn their keep by lowering your overall tax bill. It’s the closest you can get to charging your expenses rent!
Schedule C, Box 10
Fees you pay to get new tenants, like advertising or realtor commissions, can be deducted.
Schedule C, Box 21
You can write off up to $2,500 for individual repairs to your property.
Schedule C, Box 23
You can write off the property tax you pay on your investment properties.
Schedule C, Box 16a
The mortgage interest you pay each month for an investment property is considered a write-off.
Schedule C, Box 13
Every year, you can write off the depreciation of your properties on your taxes.
Schedule C, Box 15
Utility bills, like electricity, gas, and water for the property, can be written off
Schedule C, Box 11
Freelancers, contractors, or other services that help you run your business are tax-deductible.
Schedule C, Box 11
If you pay a management company to take care of your property, you can write off their fees.
Schedule C, Box 17
Do you pay a professional to audit your financial records and take care of your tax planning? Their fees are a write-off.
Schedule C, Box 10
If you pay extra for a business bank account or business credit card, any interest or fees you incur can be written off.
Schedule C, Box 21
Write off anything related to keeping your rental space safe and cozy!
Schedule C, Box 27a
You can write off lockboxes and spare keys you keep outside the property so people can check in without you there.
Schedule C, Box 15
Insurance premiums for the property — including liability insurance — can be written off.
Schedule C, Box 10
Loan-related fees, like credit checks and appraisals, can be tax write-offs.
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Landlords who use their car for work, like to show or visit a property, or to meet with a tenant, real estate agent, or property management company, can write off car expenses from their taxable income.
Schedule C, Box 27a
Parking for a meeting downtown, or any other work trip, is tax-deductible!
Schedule C, Box 27a
A toll while driving to or from a work destination is tax-deductible!
Schedule C, Box 13
If you buy a new car, you can write off part of the cost every year for five years.
Schedule C, Box 22
Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
Schedule C, Box 15
Car insurance monthly fees, registration, even roadside assistance are partially deductible.
Schedule C, Box 9
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.
The business meal deduction allows landlords to write off the cost of food or drink as long as they're bought for work purposes.So if you grab a coffee and muffin while chatting about potential partnerships with fellow landlords, mortgage brokers, real estate investors, or tenants, you can write it off.
Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
Many costs associated with business trips are tax-deductible.
For instance, if you rent a car to visit an out-of-town property that needs repairs and need to spend a night in a hotel, you can write off the costs of both your transportation and lodging.
Schedule C, Box 24a
Planes, trains, and car rentals are all work-related travel costs that can be written off.
Schedule C, Box 24a
When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.
Schedule C, Box 24a
When you're traveling for work, all meals are tax-deductible. Even takeout!
If you regularly use a portion of your home for business, like to schedule property maintenance and repairs or to advertise vacant properties, you can write off home office expenses.
Schedule C, Box 18
A desk, chairs, lamps, and other home office necessities are all tax write-offs.
Schedule C, Box 21
You can write off up to $2,500 for individual repairs to your property.
Form 8829
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
Form 8829
Whether it's rental or homeowners insurance, you can write off a portion through your home office deduction.
Form 8829
It'd be hard to work in an office without running water, huh? You water bill counts.
Schedule C, Box 25
Your Comcast bill is a tax write-off. You need internet to do your job!
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