Some Tax Deductions for Real Estate Investors.

**Note** Please seek  professional counseling, this article is for educational purposes.  

These are some tax deductions that some real estate investors might be able to deduct, of course please seek a professional. I will interview a tax professional either in January or February regarding the deductions below.

  • Repairs- Doors, floors, anything else you would consider repair costs?
  • Amortization- Paying off debt over time in regular installments of interest and principal to repay the loan in full by its due date.
  • Interest- Any interest expenses that you incur which are associated with money used to buy rental real estate are classified as deductions.
  • Maintenance-Have you painted your investment property, or minor things like that?
  • Home office- Are you using a bedroom as an office, or do you have a virtual office.
  • Depreciation- Depreciation is an annual deduction that is granted to investment real estate owners/landlords.
  • Transportation and Travel- Have you gone to business meetings? keep track of your mileage and your meals.
  • Insurance and Property Taxes- Are associated with rental real estate are classified as deductions.

Get more info from the IRS:

https://www.irs.gov/businesses/small-businesses-self-employed/real-estate-tax-center

 

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