This deduction is typically claimed on Schedule E of your tax return.Points Paid for Refinancing: If you paid points to refinance your rental property, you usually must deduct the points over the life of the loan.

I ask because I am up here in Pinellas by the Gulf Beaches and our 2-4 Units run between $300K to $650K.Miami 2-4 Units run between $850K to $1.8Million and the Taxes and Insurance premiums are higher.

I would also appreciate and benefit from tax consulting along with general tax planning.

The price of the houses are astronomical,  property taxes is the highest in the States.

I would love to learn as much as I can so I can finally start my journey into owning real estate properties.Thank you,Mike

You’re not creating a tax deduction you’re only pulling it forward.

They are now asking for best and final offers.

Is this property tax deductible? 

That sounds like a smart move, especially with the tax benefits!

You normally report your rental income and expenses on Form 1040 or 1040-SR, Schedule E, Part I, when you do your taxes.* What do I do to ensure that my property is safe legally from any lawsuits?