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hesed1968
New Member

Can I claim, for my S Corp, the principal portion of the mortgage payments for residential rentals on form 8825? Is it not a business expense?

Residential Rentals is the type of my S-Corporation.  I have 8 detached homes.  This is my first full year of using Form 8825 instead of Schedule E.

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AmyT
New Member

Can I claim, for my S Corp, the principal portion of the mortgage payments for residential rentals on form 8825? Is it not a business expense?

You do not claim the principal payments as an expense.

You are getting the benefit of the principal payments when you enter the cost of your properties and depreciate them.  Treating loan principal payments as an expense is taking this expense a second time, as you deduct the cost of the properties via depreciation.

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AmyT
New Member

Can I claim, for my S Corp, the principal portion of the mortgage payments for residential rentals on form 8825? Is it not a business expense?

You do not claim the principal payments as an expense.

You are getting the benefit of the principal payments when you enter the cost of your properties and depreciate them.  Treating loan principal payments as an expense is taking this expense a second time, as you deduct the cost of the properties via depreciation.

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