The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/i-am-in-the-33-tax-bracket-and-i-depreciate-my-30667345.aspx

Subject:  Re: Tax deductions on rental property Date:  5/4/2013  9:50 AM
Author:  TMFPMarti Number:  118585 of 121565

I am in the 33% tax bracket and I depreciate my rental property.
There isnt a limit that I am aware of.


Let's see if we can pull this together since both responses are right--as far as they go.

There are no limits on specific types of expenses because of income. If the rental results in a tax profit we're done. If the rental results in a tax loss, which is possible even with a positive cash flow, the income-based phaseout of current loss recognition akg mentioned comes into play, and the loss is carried forward.

Phil
Rule Your Retirement Home Fool
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us