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Do Rental Properties Qualify as a Business?

I presume this question relates to whether rental properties qualify as a business for tax purposes. The answer is yes. The expenses you incur related to your rental properties are deductible as a business expense against your rental income (and potentially against other income if you have a loss) so long as they meet the standard tests for trade or business expenses, namely they have a business purpose and are ordinary and necessary.

Warmest regards,

Tom

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This page contains a single entry from the blog posted on December 14, 2011 10:53 AM.

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