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What are the tax implications of buying a rental property?
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The tax implications of buying a rental property depend largely on factors such as your country of residence and the specific nature of the property. In general, you may be subject to income taxes based on rental income, and may also be liable for capital gains taxes when you sell the property. Depending on where you live, you may also be eligible for a variety of tax deductions such as mortgage insurance, depreciation, and repair costs. Additionally, you should check with a tax professional to ensure that any applicable tax laws are properly followed when buying a rental property.