A New Tax Break for Rental Income
by Joy Taylor, Editor, The Kiplinger Tax Letter
Jan 02, 2020
2 minutes
Renting out property can create a retirement income stream that is Uncle Sam friendly. The federal tax law is replete with breaks for landlords, and the 2017 tax law created a new write-off that mSelf-employed individuals and owners of S corporations, partnerships and LLCs can now write off 20% of their qualified business incomeany landlords can take for their Schedule E rental income.
The new tax break falls under the special 20%
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