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The beauty of the standard deduction is that it goes unqualified to everyone. The rich itemize their taxes almost without exception. IANAA, but interest on a r
by matt_wulfeck 10y ago
The beauty of the standard deduction is that it goes unqualified to everyone. The rich itemize their taxes almost without exception.
IANAA, but interest on a rental is a business expense, therefore will be be unaffected by this change.
- greesil 10y agoYou didn't actually address my first point, and you're factually incorrect on the second. Are you confused, or are you paid shill?
- matt_wulfeck 10y agoWhat's incorrect about my statements? I'm not an account so I could be wrong. From what I understand the standard deduction is unqualified for all tax filers and affects personal income returns. If a business owns a giant rental complex who will claim the personal deduction? Isn't the interest on the loan just an ordinary part of the business expense?
- sctb 10y agoPlease no personal attacks on Hacker News like this.