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Lantinez

Who Gets The Tax Write Off?

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Hi Everyone!

 

When you Lease/Option a property, who gets the tax write off? The original owner who's name is on the loan with the lender, or the new Deed holder who is now responsible for making payments (which he is receiving from his L/O buyer)?

 

Lannette

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If the seller deeds the property sub2 and you are making the payments then you report the interest paid on the loan.

 

If you are buying on lease option then Seller retains those rights.

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