S. 969 is a proposed bill intended to amend the Internal Revenue Code of 1986 to prevent certain tax deductions for property owners with 50 or more single-family rental homes. Specifically, the bill seeks to eliminate the ability of these owners to deduct interest and depreciation on these...
Simple Explanation
There's a new idea for a rule where if someone owns 50 or more houses that people rent, they won't be able to save money on taxes by mentioning the money spent on their houses, like fixing them or paying loans, unless they sell a house to a person to live in or a special group that helps people find cheap homes.