Specialty · Real estate
Real estate tax preparation for landlords, hosts and investors
Rental property is where good tax work pays for itself — and where small mistakes quietly compound for years. We make sure your depreciation, passive losses and property sales are handled correctly from the start.
Who we help
- Landlords with one rental or a growing portfolio
- Short-term rental hosts (Airbnb, VRBO) who want to understand the “STR loophole”
- Real estate agents and investors weighing real estate professional status
- Anyone selling a rental, converting a home to a rental, or doing a 1031 exchange
- Families who inherited property and need to establish its basis
- Owners with property in more than one state
What we handle
Rental reporting and depreciation done right
We build a clean depreciation schedule for every property — separating land from building, and capturing improvements, appliances and land improvements on their proper recovery periods. If depreciation was missed in prior years, we can often catch it up in one year with an accounting method change (Form 3115) rather than amending old returns.
Passive loss rules, in plain English
Rental losses are generally passive. Whether you can use them this year depends on your income, how involved you are, and how your properties are grouped. We walk through the active-participation allowance, carryforwards, and what happens to suspended losses when you sell.
Real estate professional status and short-term rentals
Qualifying as a real estate professional (750+ hours, and more than half your working time in real property trades) — or running a short-term rental with an average stay of seven days or less and material participation — can turn rental losses into losses that offset other income. These positions are valuable and closely scrutinized, so we help you document them properly and file the aggregation election when it makes sense.
Selling property
We calculate gain correctly, including depreciation recapture (unrecaptured Section 1250 gain), suspended passive losses released on sale, installment sales, and the home-sale exclusion under Section 121 — including partial exclusions and rules for homes that were once rentals.
1031 exchanges, cost segregation and inherited property
We report like-kind exchanges on Form 8824 and carry basis forward accurately, coordinate with cost segregation providers on bonus depreciation, and establish stepped-up basis on inherited real estate.
Multi-state properties
Own a rental outside Georgia? You may owe a nonresident return where the property sits. Your fee includes one state; additional states are quoted up front.
Common questions
Can I deduct my rental property losses?
Sometimes. Rental losses are passive by default. Many owners can deduct up to $25,000 under the active-participation allowance, but that allowance phases out between $100,000 and $150,000 of modified AGI. Real estate professionals and qualifying short-term rental owners may be able to deduct more. Unused losses carry forward and are released when you sell.
I never took depreciation on my rental. What now?
You should fix it — the IRS reduces your basis by depreciation “allowed or allowable,” so you lose the benefit on sale either way. In many cases we can claim all missed depreciation in the current year with Form 3115 instead of amending prior returns.
Do you work with Airbnb and VRBO hosts?
Yes. Short-term rentals have their own rules — average length of stay, material participation, and whether you provide substantial services all change the tax treatment. We help you understand where you land and keep records that support it.
Do you prepare returns if my rental is in another state?
Yes. Your fee includes one state return; additional state returns are quoted once we know where your properties are.
Let’s make this year’s taxes the calm part.
Book a short introductory call. We’ll learn about your situation, tell you plainly how we can help, and give you a clear fee before any work begins.