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You said: How would a renter feel if their rent increased because their landlord was unable to take a mortgage deduction? I countered that the home mortgage i
by ubernostrum 10y ago
You said:
How would a renter feel if their rent increased because their landlord was unable to take a mortgage deduction?
I countered that the home mortgage interest deduction doesn't apply to rental properties. Renters and homeowners are thus currently unequal from a tax standpoint, since renters effectively pay a higher tax rate than homeowners. Removing the deduction would thus not create a new inequality; it would remedy an existing one.
- dragonwriter 10y agoThe home mortgage interest deduction specifically doesn't, but mortgage interest on rental properties is still generally deductible. https://www.irs.gov/publications/p527/ch01.html https://www.irs.gov/publications/p527/ch01.html