[[If I buy an investment property will I receive the same tax break as if I were buying a home to live in?]]When you say "investment property", are you talking about residential or commercial rental real estate? If you are, your tax "breaks" are much greater than owning your own home.[[ Is the tax break just based on owning a home or is it based on how much the home costs? I'm curious because I can't afford a home where I live, but am considering buying an inexpensive piece of property a couple hours from where I live and renting it for the tax break.]]But the tax break might not be worth the effort. Don't buy ANYTHING just for a tax break. Buy it because it is a good investment, and you MAY receive some beneficial tax treatment. Anyway, you'll have a lot of backround reading to do in order to understand rental real estate. Check out the IRS web site and read IRS Publication 527.TMF TaxesRoyWant to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. It'll help you with your 1998 taxes, and it's never to early to start planning for your 1999 taxes. So just click on this link (http://www.foolmart.com/market/product.asp?pfid=MF+013+I) to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on http://www.fool.com/school/taxes/taxes.htm and you'll be right at the home page. Check it out. Finally, if you need to get to the IRS web site, click on http://www.irs.ustreas.gov to go directly there.
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