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Updated over 5 years ago on . Most recent reply

Income Tax write off maximum is $10k?
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!
Most Popular Reply

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