Re:Why a house is a terrible investment (2013)
by timr on Monday April 23, 2018 @12:18AM
(#16900490)
Yeah, the parent is being willfully obtuse. Property taxes are taxes that you have to pay merely for holding your investment.
Until this year, you could deduct those taxes up to your total federal tax liability (which may be what the parent is saying), but now you're limited to $10,000. Either way, it's a lot more burdensome than most investments.
Until this year, you could deduct those taxes up to your total federal tax liability (which may be what the parent is saying), but now you're limited to $10,000. Either way, it's a lot more burdensome than most investments.