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jttrumbo
New Member

I pay a land lease and own my townhome (building). Can i write off the land lease?

 
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Cindy0H
New Member

I pay a land lease and own my townhome (building). Can i write off the land lease?

Unfortunately, no, if it is a personal expense. 

For tax purposes on a personal home, you can deduct interest (points also), private mortgage insurance and property taxes on your home, however, land lease fee is not a deductible Schedule A home deduction. 

If the property is a rental, then it would a cost of the rental. 

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Cindy0H
New Member

I pay a land lease and own my townhome (building). Can i write off the land lease?

Unfortunately, no, if it is a personal expense. 

For tax purposes on a personal home, you can deduct interest (points also), private mortgage insurance and property taxes on your home, however, land lease fee is not a deductible Schedule A home deduction. 

If the property is a rental, then it would a cost of the rental. 

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