Tax Deductions?

[Krystina]

I'm not sure if anyone can help us with this one. We are currently looking into buying a manf. home in a already built community. The agent told us that we can deduct the land-lease payments. Does anyone know if this is true or where I can get further information?

Krystina

[rmurray]

I doubt this is true..you can deduct the interest you pay on housing loans...not rent..

It is best to get your tax advice from a tax professional...I doubt the sales person is one..

[Mourice]

I'm not a tax accountant - manufacturing cost, actually - but I doubt you can deduct the land lease payment, unless it were a business property (don't mess with the IRS on this.)

[Barbara]

Wouldn't it be like the deduction you take if you were renting??