Skip to main content
April 18, 2023
Question

is rent paid on a land contract tax deductible.

  • April 18, 2023
  • 1 reply
  • 0 views

I have a land contract for the rental property that I own.  Is the rent paid to the old owners deductible the same as if I was paying a mortgage company?

1 reply

PatriciaV
Employee
April 18, 2023

Yes, you may report the interest you paid on the land contract under Deductions & Credits >> Your Home >> Mortgage Interest. If you didn't receive Form 1098, you will need to enter the name and address of the land owner. You may also report any property taxes you paid.

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"