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Selling my rental (investment) on a real estate contract, what tax benefits will I still have when sold, if any?

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Forums » Consumers - Questions, Answers, Help » Real Estate » Selling my rental (investment) on a real estate contract, what tax benefits will I still have when sold, if any?
 

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Latest post Mon, Jun 8 2009 5:37 PM by Joel (Hoel) Dozal. 0 replies. Viewed 196 times.
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  • Mon, Jun 8 2009 5:37 PM                

    |Contact

    I have a rental (investment) i'm selling on a real estate contract.  Normally I am able to write off depreciation on the property and have tax benefits.

    When I sell my rental on a real estate contract will I still be able to write off the interest on the loan?  Or, since the buyer will technically be making my payments, do I lose tax benefits completely even though the loan stays under my name?

    In conclusion this is a 2-part question, what tax benefits, if any, will I still have once it's sold and what tax benefits will the buyer have? (I told her I'd find out).

    Thanks guys!!!
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