| Is the interest on investment properties tax deductible? |
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GotGoalz
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Cash: $ 3.95
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Joined: 03 Sep 2005
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| Is the interest on investment properties tax deductible? |
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I'm a home owner but if i financed 2 more houses and rented them out for imcome, can i "write off" the interest like i do with my residential mortgage?
Thanks.
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Wed Oct 11, 2006 3:30 am |
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BlankenshipFP
Money Talk Advisor
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As long as you qualify (see your tax guy) the interest on investment property is directly deductible against earnings, the same as any other expense associated with the investment.
Jim Blankenship, CFP®, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
Standard IRS Circular 230 Notice Applies
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Wed Oct 11, 2006 1:39 pm |
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GotGoalz
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Cash: $ 3.95
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Joined: 03 Sep 2005
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quote:
Originally posted by BlankenshipFP
As long as you qualify (see your tax guy) the interest on investment property is directly deductible against earnings, the same as any other expense associated with the investment.
that's good news. thank you jim.
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Wed Oct 11, 2006 4:10 pm |
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