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From: segs@mhuxv.UUCP (slusky)
Newsgroups: net.taxes
Subject: Real Estate Taxes and Tax Reform
Message-ID: <257@mhuxv.UUCP>
Date: Wed, 29-May-85 14:06:49 EDT
Article-I.D.: mhuxv.257
Posted: Wed May 29 14:06:49 1985
Date-Received: Thu, 30-May-85 06:03:28 EDT
Organization: AT&T Bell Laboratories, Murray Hill
Lines: 19

In several of the federal tax reform proposals I have heard lately,
the deduction for state and local taxes would be eliminated.
I presume that both state and local income taxes and state
and local real estate or personal property taxes would fail
as deductions under these proposals. Does anyone know for
sure? Is it just income taxes or income and property taxes?

Also, what would be the implications for evaluating the taxable
income from rental property? Would real estate tax on rental
property be allowed to offset rent receipts? It would seem that
in such a case the real estate tax is a business expense just
like repairing the roof would be. On the other hand, if they're
eliminating state and local taxes as deductions across the board,
logical arguments may not apply.
Any information you've gleaned would be appreciated.

Susan Slusky
mhuxv!segs
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