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Updated almost 4 years ago,
Deductible losses on rental property
I'm doing my taxes and when I plug in the numbers for my investment property it shows a passive income loss due to the taxes and interests on the mortgage. Would this hurt me if I want to get second investment property since the bank will not consider my property profitable even though I'm making $225 cashflow a month. I'm renting it for $2000 a month and mortgage is $1775. I talked to a lender and they said my property is considered a liability since it shows a passive income loss on my taxes. Could someone please help understand this. Thank you in advance.