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Updated 11 months ago,
Tax questions on rental property
I had two questions on my first rental property that I recently bought
1. Can I deduct the closing cost in my rental property taxes for 2023. I just bought it in Nov 2023
2. To buy this property I had taken out a fixed line of credit against my primary. Can I put the mortgage interest as a deductible for my real estate property in Schedule E under other section.