Does reducing my taxable income reduce my buying power?

[Account Closed]

If I use all my tax write offs and reduce my taxable income to 0 will that reduce my buying power in the future? In other words...will banks still count the income from my rental property when trying to qualify for a mortgage in the future even though my taxable income was 0 the previous year.

[Cole A.]

@Account Closed -- Taxable income is not the same as adjusted gross income. I'm far from an expert in tax law, but I'm pretty sure that the bank is concerned with gross income for approving/denying a mortgage rather than taxable, post-deduction income.