• @Socsa
    link
    122 months ago

    You can’t deduct the mortgage interest (you can on the new primary residence though), but suddenly every dollar you spend on the rental property is tax deductible as a business expense. And you can like deduct depreciation on the appliances and shit. It’s actually more tax advantaged in some situations.

    • bluGill
      link
      fedilink
      42 months ago

      Check with an accountant. In some cases you are better off not taking a deduction. It depends on a lot of factors that an accountant whould know.

      • @Socsa
        link
        42 months ago

        Yeah, I have a lot of experience in this area, including accountants and lawyers.