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Financial Planning / Tax Strategies


Subject:  Re: mortgage interest for rental property Date:  9/27/2000  1:11 AM
Author:  TMFExRO Number:  40345 of 127753

In addition to what you've already been told, watch out for the passive loss limitations. Because both interest and depreciation are current rental expenses, it's quite possible to have a paper loss on a rental. At certain income levels that loss is restricted on your current return and carried forward until you dispose of the property.

Information about rentals is in IRS Publication 527.

Phil Marti
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