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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, visit Landlordology.