ERICOPOLY Posted April 10, 2016 Share Posted April 10, 2016 I heard it recently stated that rent should be deductible if homeowners get a mortgage interest deduction. My take: No. Reasoning: I just paid cash for a home with after-tax dollars. The price I paid is effectively the discounted present value of all future rent. So if you allow a deduction for rent, then to be fair you'll have to let me carry forward an annual deduction in perpetuity for the present value of the rent that I had paid upfront. I'm sure the thought of that would cool anyone's heels. To get apples to apples with the mortgage interest deduction, I would agree to a law that lets you deduct the interest you incur if you borrow the money that you pay your rent with. Link to comment Share on other sites More sharing options...
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!Register a new account
Already have an account? Sign in here.Sign In Now