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Updated over 5 years ago on . Most recent reply

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Jordan Meyer
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Income Tax write off maximum is $10k?

Jordan Meyer
Posted

Hello,

So I recently found out that you can only write off $10k from local and state income tax. Does this mean I cannot write off depreciation + property tax + mortgage interest more than $10k?

Thanks in advance for your time!

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532
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Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
466
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532
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Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
Replied

The $10k is for schedule A not schedule E. There is no limit for your rentals; just your personal house.

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