There are a number of tax advantages accrued to owning a rental real estate. It turns out, many investors don’t understand the tax advantages, such as real estate depreciation. The term real estate depreciation will rarely miss out on real estate investing discussions. What is real estate depreciation? Real estate depreciation refers to an income tax deduction due to depreciation on the value of a property. Essentially, depreciation reduces the amount of income tax paid by a real estate investor. Why is it commonly referred to as “phantom” expense? Well, there is no physical check written hence the term. Investors…