Rental Property Tax Preparation in Galloway, OH
Rental property taxes are reported on Schedule E and involve some of the most valuable deductions in the tax code — depreciation chief among them. Galloway landlords can typically depreciate the structure (excluding land) over 27.5 years for residential property, which alone often eliminates taxable rental income. Add operating expenses, mortgage interest, repairs vs. improvements, and passive activity rules, and Schedule E becomes the most complex schedule most individual filers face.
Serving Galloway, Central Ohio County · 30 miles from our Morse Rd office (~45 min drive)
$275 for single rental property Schedule E
Galloway · Central Ohio
Why this Rental Property Tax Preparation page is written for Galloway
In Central Ohio, taxpayers most often come to us for ITIN preparation, mixed-status returns, and prior-year cleanup — the kind of work that requires careful identity-document review. For Galloway taxpayers, we review every W-2, 1099, ITIN letter, and dependent ID against the return before anything is e-filed or mailed.
Galloway sits in Central Ohio, small-town main streets, county-seat government employers, and increasingly residential growth from Columbus-area buyers seeking lower cost of living. Central Ohio County, where Galloway is located, is a rural community where document services typically require a drive to the county seat or to a regional metro.
easy state-route access into Columbus — typically a single-highway drive with no transfers needed. From Galloway (ZIP central Ohio), the trip is roughly 30 miles each way.
a smaller-town demographic with growing immigrant families who have moved out from Columbus for school district choices and housing — and Galloway, with a population near 0, reflects that mix in its schools, workplaces, and houses of worship.
At roughly 30 miles (~45 min drive) from Galloway, we plan return prep to finish in one sitting whenever possible. We also serve families across the rest of Central Ohio, where many of our Galloway clients have relatives, coworkers, and shared community ties.
Rental Property Tax Preparation for Galloway Residents
Galloway landlords report rental income on Schedule E with depreciation, operating expenses, and passive activity rules. Central Ohio County rental markets vary widely — from urban Columbus rentals to suburban single-family homes to rural duplexes — but the tax treatment follows the same federal rules. We specialize in maximizing depreciation, distinguishing repairs from improvements, and applying the $25,000 active participation exception for AGIs under $150k.
What We Handle
Schedule E (rental income and expenses) preparation
Depreciation calculation (residential 27.5 years, commercial 39 years)
Repairs vs. improvements distinction (huge tax impact)
Passive activity loss limitations and carryforward
Real estate professional status analysis (if applicable)
Multi-property aggregation and consolidated reporting
Section 199A QBI deduction for rental income
Pricing
$275 for single rental property Schedule E. $200 per additional property. $400+ for cost segregation studies or 1031 exchange tracking.
Turnaround
3-5 business days for clean records. Cost segregation studies: 2-4 weeks.
What to Bring
Getting to Our Office from Galloway
Distance
30 miles
Drive Time
~45 minutes
From
Central Ohio
From Galloway, head toward Columbus and exit onto Morse Rd. Our office is at 3185 Morse Rd, Suite 15 — between Cleveland Ave and I-71. Free on-site parking, walk-ins welcome every day Mon–Sat 10am–6pm, Sun 10am–4pm.
Get turn-by-turn directions on Google Maps →Frequently Asked Questions
What's the difference between a repair and an improvement?+
Repairs maintain existing function (fixing a leak, painting a wall) and are immediately deductible. Improvements add value or extend life (new roof, kitchen remodel, HVAC replacement) and must be capitalized and depreciated over years. The distinction has huge tax impact — we apply IRS Tangible Property Regulations to maximize current deductions.
Why does my rental show a loss when I made money?+
Depreciation. The IRS lets you deduct ~3.64% of the building cost annually for 27.5 years (residential rental). On a $200,000 property (with $40,000 land value), that's $5,818/year of depreciation deduction. Add operating expenses, and many cash-positive rentals show paper losses on Schedule E.
Can I deduct rental losses against my W-2 income?+
Generally rental losses are passive losses, which can only offset passive income. EXCEPTION: if your AGI is under $100,000 and you actively participate (make management decisions), you can deduct up to $25,000 in rental losses against ordinary income. The exception phases out between $100k-$150k AGI.
How far is your office from Galloway?+
Our office at 3185 Morse Rd, Suite 15, Columbus is approximately 30 miles from Galloway — typically a 45-minute drive. We're on the north side of Columbus between Cleveland Ave and I-71 with free parking. Walk in any day Monday through Saturday 10am–6pm, or Sunday 10am–4pm.
Do Galloway residents owe local city income tax?+
Most Ohio municipalities in Central Ohio County levy a 1-2% local income tax on residents and on income earned within city limits. We calculate your local tax liability and file the local return alongside your federal and state returns when applicable.
Rental Property Tax Help in Galloway
Schedule E specialists — depreciation, repairs, passive losses. Walk in to our Galloway-area office.
3185 Morse Rd, Ste 15, Columbus, OH 43231 · Mon–Sat 10am–6pm · Sun 10am–4pm