ilmscore | Prediction Details
"so going back to this home let's assume that when you bought this home it was $20,000 for the land and $150,000 for the actual house now you will get to tell the IRS that and because this property that I bought is one year older I deserve a $5500 tax break which means you put $6,000 in your pocket this is the money that's in your bank account but you only have to pay taxes on $500 this is your taxable income because you get to take this depreciation expense on your property"
By Minority Mindset | February 25, 2024 | Pending
From video
MASTERCLASS: 10 Places Your Money NEEDS To Go As Soon As You Get Paid 00:03:48 - 00:04:17
Interpreted Prediction
A real estate investor can claim a $5500 tax break due to property depreciation on a $170,000 property (costing $20,000 for land and $150,000 for the house), reducing taxable income on $6000 profit to $500.

Prediction Details

Topic
Real Estate Investment Tax Benefits

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