Randall S. van Reken, EA, CFP, ATP

Tax Man LLC

Tax Changes 2018

Rental Property - Not Much Has Changed

The major issues of the Tax Cuts impacting most of us are "personal" in nature.  By contrast most business and rental issues remain unchanged as far as the deductions available to taxpayers.

So while there are some issues on your personal residence regarding mortgage interest and property taxes, those issue are unchanged on rental property.

More specifically:

  • Mortgage interest - Still deductible against the rental income (including both first and seconds)
  • Property taxes - Still deductible against the rental income
  • Insurance, HOA, Repairs, Utilities, etc. - All still deductible

The bottom line on the rental property data I need from you is:

Do it the same way you always have.