Yes
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
You can deduct the costs over time. Both items are considered capital expenditures, so must be depreciated over the life of the property (27.5 years).
No. However, you can deduct property taxes from your federal tax liability.
I think you can deduct your property taxes and the interest on your mortgage!
Purchasing a rental property can be an excellent tax advantage, actually. YOu will be able to deduct most of your maintenance, repair, interest, taxes, and some travel expenses - similar to running a business, the costs of maintaing the home will be deducted from your actual rental income.
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
You can deduct the costs over time. Both items are considered capital expenditures, so must be depreciated over the life of the property (27.5 years).
No. However, you can deduct property taxes from your federal tax liability.
You can't do that.
I think you can deduct your property taxes and the interest on your mortgage!
Purchasing a rental property can be an excellent tax advantage, actually. YOu will be able to deduct most of your maintenance, repair, interest, taxes, and some travel expenses - similar to running a business, the costs of maintaing the home will be deducted from your actual rental income.
I think you can deduct your property taxes and the interest on your mortgage!
If you use it for your business or if you are a landlord and put it into one of your rental apartments. You may have to depreciate it.
Residential rent is not deductible. You can deduct any rent used for business purposes such as office rental, equipment rental, vehicle rental, etc.
If you file a Schedule A and Form 1040 return you can deduct your Mortgage Interest, Property Taxes, and Mortgage PMI on your 1098 form from the bank or mortgage company.
claim your home as what? if you are asking if you can deduct the interest and r/e taxes - on a second home then - yes.if it is a rental - that is a whole other situation.
No, you can not deduct taxes for an apartment rental. Even if you had to get a new apartment to be closer to a new job, travel and expenses are tax deductible, but not housing.