real estate tax deductions

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    Hi- I am thinking of investing in turn key real estate to diversify. I am not eligible to take passive loss deductions, so what can I deduct? Can I deduct mortgage interest, real estate taxes, repairs etc down to break even, but just not to a loss? Thank you.

    Stacy JohnsonStacy Johnson

    Yes, I believe that’s the case. (Check to make sure.) Your unrealized losses increase the basis of the property, which will lower the capital gain when you sell.

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