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Tax Deductions?
Posted: Mon Jul 14, 2003 12:19 pm
by 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
Re: Tax Deductions?
Posted: Mon Jul 14, 2003 1:00 pm
by 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..
Re: Tax Deductions?
Posted: Tue Jul 15, 2003 12:02 pm
by 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.)
Re: Tax Deductions?
Posted: Fri Jul 25, 2003 12:04 pm
by Barbara
Wouldn't it be like the deduction you take if you were renting??