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What are the calculations to show the tax benefit of mortage interest deductions for a rental-property buyer?
Posted on August 29th, 2008 No comments
J Silva asked:
I understand that if the owner lives in a four family house, 25% of the interest is shown as a deduction on Schedule A and 75% is shown as an expense on Schedule E.However, exactly how does this benefit the owner? Lets assume the owner paid $500 over the course of the year in taxes and paid $100 in mortgage insurance.
Thanks!!
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