How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

Re:How the Maker of TurboTax Fought Free, Simple Tax Filing ... by wycx on Monday March 13, 2017 @01:29AM (#13855442)

If you think that is bad, wait until you discover the situation in Australia.

In the US, you get a deduction for interest on your primary residence. In Australia, you cannot do that, but instead, you get to make a deduction of interest in any investment property you own against your personal income! Plus investment properties have a lower capital gains tax rate than other asset classes.

The tax laws in this country are fucked.

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Re:How the Maker of TurboTax Fought Free, Simple Tax Filing ... by lukevdp on Monday March 13, 2017 @03:17AM (#13855825)

Can someone from US confirm the tax treatment of interest on investment loans? Are they counted as an expense? Can losses from an investment property be deducted against other income?

Also, in US is there any capital gains discount for property?

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