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Investors & landlords
I disagree with the advice: "I would not recommend renting the condo if you can't show a net profit and pay some tax on the income."
Rental real estate is an excellent tax shelter (within the limitations of the rules) and investment. Most small landlords do show a loss, if they have a mortgage. The future tax on the depreciation recapture and capital gains is totally avoided if left to heirs.
Rental real estate is an excellent tax shelter (within the limitations of the rules) and investment. Most small landlords do show a loss, if they have a mortgage. The future tax on the depreciation recapture and capital gains is totally avoided if left to heirs.
May 31, 2019
5:57 PM