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rp

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Posts: 29
Reply with quote  #1 
Will we still be able to deduct property taxes on rental properties under the new law if you already reach $10,000 SALT cap deduction through your personal home property tax?

If not... I presume you would still be able to, however you'd need to create an LLC, Corp, etc (i.e. something separate from your personal return) and then put the rentals into that entity. 

-R
AccidentalRental

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Posts: 122
Reply with quote  #2 
Property taxes paid on Investment Properties remain deductible according to several articles I've read. Here is an excerpt from one article:

State and local taxes paid in respect to carrying on a trade or business, or in an activity related to the production of income, continue to remain deductible. Accordingly, a rental property owner can deduct property taxes associated with a business asset, such as any type of rental property.

Forbes has a great article on the question of the benefits of different business entities under the new tax act.

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AccidentalRental - A profitable resource for new landlords

rp

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Posts: 29
Reply with quote  #3 
Thanks for sharing the article.  This was particularly relative:

"If you have rental properties and typically file a Schedule E and your only concern is a loss of deductions on that Schedule, there is no tax benefit to incorporation.Schedule E remains as is: The limits and caps on mortgage interest and real estate taxes apply to residential properties which would normally be reported on a Schedule A. Your rental property mortgage remains reportable and deductible on a Schedule E and the $10,000 aggregate cap for state and local property taxes does not apply to properties used in a trade or business.

-R
neiljakson

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Posts: 3
Reply with quote  #4 
Awesome data. I as of late ran over your blog and have been perusing along. I figured I would leave my first remark.  Essay Writing Website. I don't realize what to state with the exception of that I have
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OHlandlord

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Posts: 3,779
Reply with quote  #5 
This is hilarious.

"Awesome data. (incomplete sentence)  I (insert comma here) as of late (insert comma here) ran over (ran over?  Not ran across?) your blog and have been perusing along. (2 spaces after a period, not 1)  I figured I would leave my first remark.  Essay Writing Website.  (Again, 2 spaces and incomplete sentence)  I don't realize what to state with the exception of that (that?  Do you mean what?) I have (No punctuation?  And why would an essay writing service tell you they don't know what else to say??!!!)

Sorry neiljakson, but I give your writing a D.  Technical errors, poor word choices, mistakes in grammar lead me to think your essay writing service would not be helpful.  Why would anyone hire an essay writing service with such poor skills?  These spammers make me laugh.
rp

Registered:
Posts: 29
Reply with quote  #6 
OHLandlord- That post is likely not from a human.  Spammers use random word generator "bots" to automatically place postings in forums.  The goal being to get you to click on some link to infect your computer with malicious software or sell you something.  The defence mechanism is to use "CAPTCHA" to differentiate between a human and a bot.  This forum does not appear to use CAPTCHA.  Here's more info if you were interested:
https://en.wikipedia.org/wiki/CAPTCHA

-R
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