Rental Property Deductions: What Landlords Need to Know

In this episode of How to Lower Your Tax Bill, host Terrence Hutchins dives into one of the most potent tax tools for real estate investors—rental property deductions. Whether you’re managing a single unit or a growing portfolio, Terrence breaks down what qualifies as rental income, what deductions landlords often miss, and how to avoid trouble when renting to family or below market.

Key Topics Covered:

• What qualifies as rental income (including security deposits, lease break fees, and payments in kind)
• How rental income is taxed and when net investment income tax applies
• What landlords can deduct:
• How to fix missed depreciation deductions from past years using Form 3115
• The Qualified Business Income (QBI) deduc ...