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I'm not a tax lawyer but I see the link you posted states owners can get a tax deduction for upto $25k a year, which is ~$2k/month which means you can wait for
by OzzyB 7y ago
I'm not a tax lawyer but I see the link you posted states owners can get a tax deduction for upto $25k a year, which is ~$2k/month which means you can wait for that comfy Bank to come and lease your space.
Of course this is based on owners with deep pockets that can benefit from this, and not the rest of us that might actually need that rental income; but like they say, the rich get richer...
- senordevnyc 7y agoReal estate investor here. You can't claim "lost rent" as an expense. The deduction you're referring to allows you to deduct up to $25k per year of actual rental losses against your other income, but only if your income is below $150k / year. In no way is this an incentive to leave your property vacant.
- OzzyB 7y agoSo, is the OP right or wrong? I'll admit I was intrigued :)
- lotsofpulp 7y agoOP is wrong.