Who gets the tax deduction? - Posted by Mike

import · February 22, 2000, 5:38pm

Posted by Dave T on February 22, 2000 at 20:55:22:

Your contract for deed is treated as an installment sale. You do NOT get to depreciate the property. You DO get to deduct the interest you pay on the underlying mortgage but you have to declare as income the interest you receive from your buyer.

import · February 22, 2000, 5:38pm

Posted by Mike on February 22, 2000 at 18:38:56:

If i sell via contract for deed (i own the property now with a loan on it) do i still get the tax deductions for the interest payments as i did when i rented it? Also does one still depreciate property when selling this way?

Thanks!!