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Updated almost 4 years ago on . Most recent reply

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244
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Ron Singh
  • CA
47
Votes |
244
Posts

tax deductible limit on rental properties

Ron Singh
  • CA
Posted

are there any max limit on mortgage interest, property tax etc, which would stop you from getting tax deductions on rental properties you own ?

in other words say you own in your name (not llc):

primary residence : mortgage 750k

rental A : mortgage 750k

rental B : mortgage 750k

are you able to claim deductions on all three properties, I.e mortgage interest and property taxes ?

or there is any applicable max limit ? if so what id the limit

Most Popular Reply

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Basit Siddiqi
  • Accountant
  • New York, NY
3,944
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Basit Siddiqi
  • Accountant
  • New York, NY
Replied

The $750,000 mortgage limitation you are referring to is in relation to personal mortgage interest paid on a personal residence. It does not apply to investment properties.

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Basit Siddiqi CPA
4.8 stars
77 Reviews

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