Im sure the answers are obvious but I am wondering about the following?

-Is interest paid on a commercial property tax deductible?

-Is rental income reported as normal income even though almost all of it goes to the mortgage payment?

-Are there any other tax advantages/disadvantages that i should know about?

Thanks in advance....

TD

-Is interest paid on a commercial property tax deductible? Usually yes.

-Is rental income reported as normal income even though almost all of it goes to the mortgage payment? Usually yes, but in a different section of the personal tax return if held individually. In a separate tax return if you create a real estate holding entity.

-Are there any other tax advantages/disadvantages that i should know about? Yes, many. But, I do not give tax advice.