 Mortgage Int Deduction (by carol [NY]) Nov 16, 2012 11:33 AM
 Mortgage Int Deduction (by Lee [IN]) Nov 16, 2012 1:40 PM
Mortgage Int Deduction (by Lance [NJ]) Nov 16, 2012 1:49 PM
Mortgage Int Deduction (by Phil [OR]) Nov 16, 2012 2:24 PM
Mortgage Int Deduction (by Carol [NY]) Nov 16, 2012 11:41 PM
Mortgage Int Deduction (by carol [NY]) Posted on: Nov 16, 2012 11:33 AM
Message:
State Specific Question About: NEW YORK (NY)
Does anyone know about possible proposed changes on the mortgage interest deduction for single family investment properties? Is this deduction likely to be reduced or even eliminated. --174.141.xxx.xx |
Mortgage Int Deduction (by Lee [IN]) Posted on: Nov 16, 2012 1:40 PM
Message:
Amazing, I don't see that helping things from MY stand point. When they change the rules, people will just adapt. --96.31.xxx.xx |
Mortgage Int Deduction (by Lance [NJ]) Posted on: Nov 16, 2012 1:49 PM
Message:
Have you heard anything specific or just asking a random question because I can't understand how they could ever get rid of something like that. It would be like saying you can't deduct repairs from your income. The interest is a legitimate expense.
Perhaps, you mean the elimination of mortgage interest for personal use? There has been talk of that. But, that does wouldn't apply here. --173.63.xxx.xx |
Mortgage Int Deduction (by Phil [OR]) Posted on: Nov 16, 2012 2:24 PM
Message:
I believe that the talk is to eliminate "home mortgage interest" for the home owner. since our rentals are a business, I would think that any interest wouold b a business deduction just as it always has been.... guess I may have to rent from one of my LLC --98.232.xxx.xx |
Mortgage Int Deduction (by Carol [NY]) Posted on: Nov 16, 2012 11:41 PM
Message:
Thanks for your response. I have not heard anything yet but, mortgage interest expense on investtment properties can be hefty and mine are not yet in LLCs.(shedule E) Lord knows, who the government is going to pimp to get out of this mess. My guess is that your property taxes are insane like mine are, so you understand my worry. --174.141.xxx.xx |
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