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amitforum · Joined: 23 Jul 2009 Posts: 30 4.71 Dollars($)

I took mortage loan on my house, but due to some resone i am living other place and put my home on rent.
when I rent out the property ,whether the interest on that loan will be tax deductible .
Is home rent be come in Taxation?

How much percent i can save tax on mortage loan??

help???

livinginnky · Posted: Thu Jul 23, 2009 12:42 pm Post subject:

That is a difficult question to answer... you will get the best advice from whoever does your taxes... if you do your own call a company like HR Block, etc.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

amitforum

Your rental will be considered as an income after deducting your mortgage.

You have to show this as an rental property and you cna takle deprecitaion on the property.

Good luck and feel free to ask

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Should tax affect by Rental Property?