- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
This is something I never knew as well. I don't claim any depreciation because I'm not entirely sure how that would work out. We paid 200 K for the home then put another 200 K into restoration and only recently began renting it . So the purchase price would not be something I would ever want to depreciate against as we put so much into restoration . This is a shocking law because so many people have a mortgage on their business property. To me it should be considered like any other business if you have debt that's considered an expense but I know you don't make the rules . Additionally, The mortgage payment we carry is actually a home equity line of credit meaning that every dollar owed is actually money that went into restoration of the property prior to renting it out so in a fact it truly is a business expense !
May 31, 2019
4:48 PM