What are the tax benefits of investing in real estate?
An example of an AI chatbot conversation about tax benefits in real estate investing.
What are the tax benefits of investing in real estate?
Investing in real estate offers several tax benefits, including mortgage interest deductions, property tax deductions, and depreciation.
Can you explain how depreciation works?
Depreciation allows you to deduct the cost of the property over its useful life, reducing your taxable income.
Are there any tax benefits for rental properties?
Yes, rental properties can provide benefits like deducting expenses for repairs, maintenance, and even travel related to property management.
What about capital gains tax when selling a property?
When selling a property, you may be subject to capital gains tax, but there are exemptions, like the primary residence exclusion.
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