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(48,223 posts)

8. Yes, if you're doing it just for the tax deduction

Thu Aug 27, 2015, 10:45 PM

Aug 2015

you're essentially receiving a 35 cent tax deduction for every dollar you're paying the bank.

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10 places where renting a home beats buying [View all] steve2470 Aug 2015 OP

I live in Suffolk County, and renting is no bargain, either... TreasonousBastard Aug 2015 #1

And I will live in none of those places... awoke_in_2003 Aug 2015 #2

Yep... GummyBearz Aug 2015 #3

Yes, if you're doing it just for the tax deduction Lydia Leftcoast Aug 2015 #8

Is that a deduction from your taxes, Art_from_Ark Aug 2015 #9

It's a deduction from your taxable income Lydia Leftcoast Aug 2015 #11

Good points... awoke_in_2003 Aug 2015 #10

How about "you've had shelter for that year"? Recursion Aug 2015 #6

I don't consider my rent money (which puts a roof over my head) Lydia Leftcoast Aug 2015 #12

I'm not convinced monetizing housing is good thing. hunter Aug 2015 #4

Or anyplace else you don't want the responsibility of home ownership. KentuckyWoman Aug 2015 #7

I lived in a neighborhood where most homes were rentals. Throd Aug 2015 #13

Point well taken. KentuckyWoman Aug 2015 #15

Well, at least you're self aware. kcr Aug 2015 #16

rent is high in LA Liberal_in_LA Aug 2015 #17

Much cheaper to rent where I live (los angeles) taught_me_patience Aug 2015 #18