I just sold my home and am renting. It's great but I need a tax write-off since my rent isn't tax deductible.

Any suggestions on what to do? I have looked at model home leasebacks and a few other investment options. I just need to make a decision before the year is over.

There is a misconception here. You cannot write of a loss on the sale of your home, and depending on circumstances, you may have to pay tax on a gain. You cannot write off your rent payments.

If you are looking for an investment that will provide a tax write off, real estate may be possible. The write off becomes available because real property, other than land, depreciates and any interest payments are deductible. Of course, the real estate has to be owned as income producing property.

You are already on the right track. General observation: If you are not buying a home, you do not itemize your deductions. Doesn't hold true 100% of the time, but pretty close.

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