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Updated about 6 years ago,

Jameson Sullivan's profile image
Jameson Sullivan's profile image
Jameson Sullivan
  • Real Estate Broker
  • from Tacoma, WA
  • Member since Apr 26, 2016
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User Stats

545
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Jameson Sullivan's profile image
Jameson Sullivan's profile image
Jameson Sullivan
  • Real Estate Broker
  • from Tacoma, WA
  • Member since Apr 26, 2016
Connect
Jameson Sullivan
  • Real Estate Broker
  • Tacoma, WA
250
Votes |
545
Posts
Tax, SDIRAs & Cost Segregation

Rental Income Taxes When Using LOC to Purchase

Jameson Sullivan
  • Real Estate Broker
  • Tacoma, WA
Posted

Hello All!

I'm wondering if anyone might have an answer on this for me. If I purchase an asset with cash, then borrow a line of credit against it to purchase a second asset then use 100% of rents collected from BOTH assets to pay down the LOC, can I write it all off as debt service and not be responsible for a 15% rental income tax liability?

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