Property tax deductions on W2 in Syndications

[Sateesh Kumar]

Hello

I have a general question surrounding syndications .....multifamily, mobile home parks,self storage, industrial etc. Obviously sponsors / GPs have to deal with insurance, property taxes etc ,I would like to know if as an LP one can avail tax deductions for property tax , insurance maintenance etc. Should the syndication be structured only in a certain way for the LP ( for example TIC/1031 exchange) to avail such deduction. appreciate your inputs

Thanks 

[Rick Martin]

@Sateesh Kumar "owner-occupied" makes it different, but if it's an investment property (rental property) vs a syndication investment, it's the same. You are furnished with a K1 through the syndication that allows you to write off all the expenses that you mentioned, but only against passive gains. It's important to understand that. You can only write off passive losses against passive gains. Not portfolio income (stocks, bonds) or earned income (unless you or your spouse are a real estate professional). This goes for whether it's a syndication or any real estate investment.