Brendan Burgess
Founder
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If I own two commercial properties as follows
Rent Property A: 50k -
Interest 20k
Rental profit 30k
Rent Property B: 30k
Interest : 50k
Rental loss- -20k
Am I right in saying that the two are combined, so that my Rental profit for the year is €10k?
Does it matter if Property A is a residential mortgage?
I presume that the figures are just adjusted as follows:
Rent Property A: 50k -
Interest 15k (75% of 20k)
Rental profit 35k
The revised rental profit for tax purposes is not €15k
I had some vague notion that setting losses on commercial property against profits on residential property was not very efficient, but it doesn't seem to matter?
Rent Property A: 50k -
Interest 20k
Rental profit 30k
Rent Property B: 30k
Interest : 50k
Rental loss- -20k
Am I right in saying that the two are combined, so that my Rental profit for the year is €10k?
Does it matter if Property A is a residential mortgage?
I presume that the figures are just adjusted as follows:
Rent Property A: 50k -
Interest 15k (75% of 20k)
Rental profit 35k
The revised rental profit for tax purposes is not €15k
I had some vague notion that setting losses on commercial property against profits on residential property was not very efficient, but it doesn't seem to matter?