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posted Jun 6, 2019 5:55:41 AM

Are principal payments on business property is tax deductible

I have a commercial land I used for my business.  are principal payments on business property is tax deductible

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1 Replies
Intuit Alumni
Jun 6, 2019 5:55:43 AM

No, just as with a home, mortgage principal is not deductible.  Interest is deductible.You take a portion of the cost improvements to the land through depreciation.

http://www.nolo.com/legal-encyclopedia/deducting-business-related-interest-loan-payments.html