#2 All Forums Contributor
- Real Estate Broker
- Lake Oswego OR Summerlin, NV
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CAlling BP CPA to write post to clarify new tax bill for landlord
#2 All Forums Contributor
- Real Estate Broker
- Lake Oswego OR Summerlin, NV
@Mindy Jensen Mindy it would be great if you can twist one of the CPA on BP to do a nice post on the effects of the new tax bill.. as I know the threads will start to run wild with you can do this you cant do that..
from what I glean and whats important to me.
1.. cant write off state income tax from federal.. that's a biggee for high tax states and conversely makes no tax states more attractive to those who can move.
2. limits property tax write off to 10k on personal resi.. that effects high tax rate states.. and high value states.
As I no longer have rental property I was not really tracking what it effects there.. but I was planning on selling my personal resi and getting the 500k tax free.. it looks like now I will have to hold one more year as I have only been in this home 4 years not five.
etc etc.
