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Old 06-05-2005, 11:24 AM
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Location: CA, USA
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Is Rental Principal also deductible on taxes?

What is the name of your state? CA

I am paying on several units have both Principal and Interest payments each month. Usually I've only been deducting the Interest Paid on the loans. Is the Principal part of the payment also deductible as an Expense to do business?
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  #2  
Old 06-05-2005, 11:26 AM
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Quote:
Originally Posted by enricosuave
What is the name of your state? CA

I am paying on several units have both Principal and Interest payments each month. Usually I've only been deducting the Interest Paid on the loans. Is the Principal part of the payment also deductible as an Expense to do business?

**A: you're kidding right?
  #3  
Old 06-05-2005, 05:30 PM
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Join Date: Feb 2001
Location: CA, USA
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As usual, your answer does not lack for sarcasm but wants for any substance. I'll await a real answer from someone who knows. You should find a new nickname, 'guru' hardly applies.
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  #4  
Old 06-05-2005, 07:03 PM
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um, no.

Snipes
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This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
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