By Rich Arzaga, CFP®, CCIM , The Real Estate Whisperer® When investors discover that depreciation was missed on a rental property, the reaction is rarely technical. It’s emotional. If the omission was accidental, the question is: “Is it too late to fix this? And how much could we recover?” If it was intentional, the question shifts: “What happens if we just leave it alone and go forward correctly?” And almost inevitably, someone suggests: “Let’s just amend the last few years.

Once Escrow Closes, Some Options Close With It By Rich Arzaga, CFP®, CCIM , The Real Estate Whisperer® When depreciation issues are discovered, some investors assume they can “figure it out later.” After all, it’s math. If there’s a cost, it may be just interest. Maybe it’s manageable. That’s a reasonable instinct. But when someone tells me they’re already under contract, I usually ask a simple question: “Are you aware there may be a planning hurdle to resolve after this tran

By Rich Arzaga, CFP®, CCIM , The Real Estate Whisperer® When I review rental property tax returns and notice depreciation is missing, the most common reaction isn’t panic. It’s confusion. “We file the taxes every year on the property. It should all be there. We try to catch all the expenses.” That’s reasonable. Most investors assume that if the return is filed and expenses are entered, cost recovery is being handled correctly. Rather than assume anything, I ask them to explai

How skipped depreciation, timing decisions, and Medicare thresholds quietly intersect for long-term rental owners By Rich Arzaga, CFP®, CCIM , The Real Estate Whisperer® Over the past 20+ years reviewing rental property outcomes, I’ve learned that the most important tax issues rarely show up during tax season. They show up at transition. Retirement. Sale of rental. Medicare. Or even an expected shift in lifestyle priorities. That’s when quiet decisions made years earlier sudd