Miat42 and va_landlord please help!

I heard that any expense in rental property remodeling could be tax deductible from rental income. I have a license contractor to help on remodeling, but he doesn’t want to use his license ID for my tax deductible from his labor expense. I am wondering whether only use license contractor can have this tax benefit, how about asking unlicensed contractor doing rental property remodeling. Also the contract use his name to purchase the material, can I use the material purchase receipt for deduction? Thanks for any answering.

所有跟帖： 

• AS long as you have regular receipt from the contractor -va_landlord- ♂ (243 bytes) () 04/28/2009 postreply 18:37:13

• va_landlord: if he open a S-corp, then all the cost -家庭煮夫- ♂ (166 bytes) () 04/28/2009 postreply 21:06:11

• you can deduct all expenses even you are not s-corp, you just ca -jy101- ♂ (132 bytes) () 04/28/2009 postreply 21:34:03

• jy: Gracias, -家庭煮夫- ♂ (324 bytes) () 04/28/2009 postreply 22:06:35

• the answer is still NO, passive income can't offset personal inc -jy101- ♂ (102 bytes) () 04/29/2009 postreply 05:29:02

• S corp is not a good idea. You get yourself into self employment -borisg- ♀ (62 bytes) () 04/29/2009 postreply 06:35:41

• I think self employment tax only occur if you 1099 yourself -jy101- ♂ (0 bytes) () 04/29/2009 postreply 06:52:05