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June 6, 2019
Question

Are principal payments on business property is tax deductible

  • June 6, 2019
  • 1 reply
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I have a commercial land I used for my business.  are principal payments on business property is tax deductible

1 reply

Employee
June 6, 2019

No, just as with a home, mortgage principal is not deductible.  Interest is deductible.You take a portion of the cost improvements to the land through depreciation.

http://www.nolo.com/legal-encyclopedia/deducting-business-related-interest-loan-payments.html