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Updated about 4 years ago,

User Stats

10
Posts
1
Votes
Brad Diggans
  • Investor
  • 15136
1
Votes |
10
Posts

Refinancing Rental Investment Property Tax Question

Brad Diggans
  • Investor
  • 15136
Posted

I did a Home Equity Loan on my personal home to pay off my two Townhouse Rental Properties.  I then setup an auto payment from my Townhouse checking to my personal checking to pay a portion of the refinanced loan on my personal house.  

My question is, can I include the expense of paying myself as a cost for the rentals when determining profit for 2020 like a normal mortgage payment. 

Thanks in advanced, new to the site.