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Investors & landlords
Your rental expenses are business expenses, and have no impact at all on your "personal" SCH A itemized deductions. There are no limits to your deductible rental expenses on the SCH E, since rental property "is" business property. You could have $50,000 of deductions on the SCH E, and it doesn't affect any of your SCH A deductions or SCH A limits at all.
‎April 21, 2021
9:27 AM