Comments on: Can you get the realestate tax deduction? http://www.elicitfx.com/realestate/can-you-get-the-realestate-tax-deduction Wed, 23 Jun 2010 08:20:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: ninasgramma http://www.elicitfx.com/realestate/can-you-get-the-realestate-tax-deduction/comment-page-1#comment-1189 ninasgramma Mon, 08 Feb 2010 19:16:59 +0000 http://www.elicitfx.com/realestate/can-you-get-the-realestate-tax-deduction#comment-1189 If you own any real estate that you are purchasing through owner financing, the real estate taxes that you pay are deductible. If you pay interest on real estate through owner financing, it will be deductible if it is a qualifying loan on your first or second home, or is a business property.<br><b>References : </b><br> If you own any real estate that you are purchasing through owner financing, the real estate taxes that you pay are deductible.

If you pay interest on real estate through owner financing, it will be deductible if it is a qualifying loan on your first or second home, or is a business property.
References :

]]> By: Boroda http://www.elicitfx.com/realestate/can-you-get-the-realestate-tax-deduction/comment-page-1#comment-1188 Boroda Mon, 08 Feb 2010 18:43:59 +0000 http://www.elicitfx.com/realestate/can-you-get-the-realestate-tax-deduction#comment-1188 If this is your primary residence, then of course you can, easily. If this is an investment property, you can deduct interest too, although with a little more paperwork. The basic idea is, if the activity generates a taxable income (e.g., you rent the property), then you can deduct your business expenses, like repairs, loan interest, etc., against this income. Please note that you will really want to consult a professional, to be sure - don't just rely on us here. There are also some good and easy books, like JK Lasser's series.<br><b>References : </b><br>JK Lasser's tax books. If this is your primary residence, then of course you can, easily.

If this is an investment property, you can deduct interest too, although with a little more paperwork. The basic idea is, if the activity generates a taxable income (e.g., you rent the property), then you can deduct your business expenses, like repairs, loan interest, etc., against this income.

Please note that you will really want to consult a professional, to be sure – don’t just rely on us here. There are also some good and easy books, like JK Lasser’s series.
References :
JK Lasser’s tax books.

]]>