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If you own rental properties, the IRS requires you to report all rental income on Schedule E for individually owned properties and on Form 8825 for properties owned through a partnership. Fortunately, there are several tax deductions landlords can take advantage of to save money. Here are five big ones:
Remember, it is important to keep meticulous records of expenses in order to take advantage of these deductions. For more information and more landlord tax deductions, check out our Landlords Tax Page or visit Landlordology. For more resources for real estate investors, visit our Resources Page.