Question: Do I need to file a separate state tax extension for California?

California grants you an automatic extension to file your state tax return. No form is required. You must file by October 15, 2021. Your payment is still due by May 17, 2021. Does California require a separate extension? No – if you file Federal Form 4868, Application for Automatic Extension of Time To File U.S….

Quick Answer: Is furniture tax deductible for rental property?

Can I deduct the furniture I purchased for the rental? Yes. Normally, larger items are entered as assets and depreciated over time. However, you can make an election to write off items $2,500 or less as expenses instead of assets. Can I claim furniture on rental property? A: In most cases, furniture purchased by an…

What type of tax return does a homeowners association file?

About Form 1120-H, U.S. Income Tax Return for Homeowners Associations. Do associations file tax returns? * As it is not incorporated, the Association does not file income tax returns. Such an Association is subject to the applicable provisions of the Act as though it were an entity separate from its members with its own income…