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Investment Property: How Much Can You Write Off on Your Taxes?

Zillow

You can only deduct mortgage interest and repairs you make that restore the property to its original minimally functional condition. You can't deduct capital investments like new buildings, additions or renovations. Capital gains tax. The second tax bill you need to worry about is capital gains tax.

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The Complete Guide to Buying a Home As a Government Employee

Raleigh Realty

Make Predictable Monthly Payments When you're a renter, you're at the mercy of a landlord. Your gross income is the income before taxes. Consider Property Taxes When you pay for your home, you'll need to pay other fees like property taxes and insurance. You'll need to do some renovations.