The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/in-addition-to-what-youve-already-been-told-13376306.aspx

Subject:  Re: mortgage interest for rental property Date:  9/27/2000  1:11 AM
Author:  TMFExRO Number:  40345 of 121313

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.

TMF ExRO
Phil Marti
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us