What tax deductions can landlords claim?
An example of an AI chatbot conversation about tax deductions available for landlords.
What tax deductions can landlords claim?
Landlords can claim various deductions, including mortgage interest, property tax, repairs, and depreciation.
Can I deduct the cost of repairs I made to my rental property?
Yes, you can deduct the cost of repairs that keep your property in good condition, but not improvements that add value.
What about travel expenses related to managing my rental properties?
You can deduct travel expenses if they are directly related to managing your rental properties, such as visiting the property.
Are there any limits on how much I can deduct?
Yes, some deductions have limits, and it's important to keep accurate records to support your claims.
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