landlord tax advice?

mrdarrett · Joined: 25 Aug 2007 Posts: 29

Looks like I'll be a landlord this year (2008).

What publications can I study to learn more about tax issues
pertaining to landlords?

In particular, I'm wondering how mortgage interest and property taxes
on the rental home can be deducted.

Thanks,

Michael

Archived from group: misc>taxes

Paul Thomas, CPA · Joined: 25 Aug 2007 Posts: 3094

wrote

> Looks like I'll be a landlord this year (2008).
>
> What publications can I study to learn more about tax issues
> pertaining to landlords?
>
> In particular, I'm wondering how mortgage interest and property taxes
> on the rental home can be deducted.

Publication 527 is a good place to start.

http://www.irs.gov/pub/irs-pdf/p527.pdf

Remember that there may be local and state issues that would not be covered
here, so a chat with a local CPA or EA may be in order down the road.

If you have further and specific questions, stop back and ask.

--
Paul A. Thomas, CPA
Athens, Georgia

Phil Marti · Joined: 25 Aug 2007 Posts: 2520

wrote:

> Looks like I'll be a landlord this year (2008).
>
> What publications can I study to learn more about tax issues
> pertaining to landlords?

See IRS Publication 527 for income tax information.

You'll also want to check local laws regarding landlord/tenant
relationships, your homeowner's insurance agent, and any change of use
notice you may need to give the property tax people.

--
Phil Marti
Clarksburg, MD

mrdarrett · Joined: 25 Aug 2007 Posts: 29

On Feb 19, 9:03 am, "Phil Marti" wrote:
> wrote:
> > Looks like I'll be a landlord this year (2008).
>
> > What publications can I study to learn more about tax issues
> > pertaining to landlords?
>
> See IRS Publication 527 for income tax information.
>
> You'll also want to check local laws regarding landlord/tenant
> relationships, your homeowner's insurance agent, and any change of use
> notice you may need to give the property tax people.
>
> --
> Phil Marti
> Clarksburg, MD

Thanks guys.

Michael

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