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Updated over 7 years ago on . Most recent reply presented by

Peter Schuyler's profile image
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Peter Schuyler
  • from Fort Myers Beach, FL
  • Member since Aug 23, 2016
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Peter Schuyler
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Peter Schuyler
  • Fort Myers Beach, FL
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Tax, SDIRAs & Cost Segregation

Paying down Mortgage and the IRS view

Peter Schuyler
  • Fort Myers Beach, FL
Posted

I think I know the answer to this, but if I want to reduce my passive income, is paying down the mortgage via extra principal payments reduce my passive taxable income or is it viewed basically as profit? (this is inside my REI LLC)

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Christopher Phillips
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  • from Garden City, New York
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Christopher Phillips
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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
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@Peter Schuyler

Extra payments each month will go to principle, which has nothing to do with taxes.

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