topic For a rental property is the mortgage interest, principal, property tax, HOA fees etc tax deductible? in Investors & landlords

For a rental property is the mortgage interest, principal, property tax, HOA fees etc tax deductible?

gautamkalyan — Thu, 06 Jun 2019 14:09:57 GMT

Do the same rules apply for non-rental property?

ebaysinger — Thu, 06 Jun 2019 14:09:58 GMT

Do the same rules apply for non-rental property?

No ... the mortgage interest & RE taxes are deductible on...

Critter — Thu, 06 Jun 2019 14:10:02 GMT

No ... the mortgage interest & RE taxes are deductible on the Sch A which is possibly limited due to the new tax laws starting in 2018 AND are only good if you itemize deductions. All other costs are not deductible.

The mortgage interest, property tax, HOA fees plus othe...

Critter — Thu, 06 Jun 2019 14:10:04 GMT

The mortgage interest, property tax, HOA fees plus other direct expenses ... YES ... but the principal portion is taken into consideration by depreciating the property and not as a current year deduction.

Mortgage principal is never deductible.

SweetieJean — Thu, 06 Jun 2019 14:10:05 GMT

Mortgage principal is never deductible.

https://www.irs.gov/pub/irs-pdf/p527.pdf">https://www.irs.gov/pub/irs-pdf/p527.pdf</a>