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Author Topic: - Thread removed by author -  (Read 2018 times)

Offline sarahjean

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- Thread removed by author -
« on: May 29, 2009, 05:15:12 am »
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« Last Edit: May 12, 2013, 11:26:15 pm by sarahjean »

Offline kdhastedt

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Re: Rental Property Tax Deductions that will Slash Your Landlord Tax
« Reply #1 on: May 29, 2009, 11:11:11 am »

1. The Depreciation Value of Your Rental Property

When you buy a new rental property, you cannot claim the full amount that you paid for it as expenses right away. Instead your property is slowly depreciated over a long period of time.

Depending on the country that you live in, most depreciation periods for residential property range from 20 to 30 years. Home owners are usually not allowed to claim depreciation as tax deductions so you will not be able to apply this deduction to your own home.

Don't forget, however, that this is really just a deferal - this depreciation will need to be recatured if/when you sell...if you sell the property outright.

Keith
I have CDO...it's like OCD but in alphabetical order - the way it should be!

 




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