Reply to Possible to rent home "under the table"?

Forum Index » Real Estate

Reply to "Possible to rent home "under the table"?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What does your mortgage company have to do with renting your house?  It's your house, not a condo.

The rent is definitely considered income, however, you can deduct a ton of stuff like management fees, repairs, anything.  We did it for 3 years when we moved.  It wasn't bad on our taxes.  It actually helped a little b/c we wrote off so much stuff.

We definitely used a management company though.  It helped significantly.[/quote]

Don't cheat on your taxes.  [b]Do it above board and after depreciation and other deductions you'll probably come out ahead.[/b] [/quote]

This.

-mortgage lender [/quote]

When I inherited a house, I had to get a rental mortgage since someone was still living in it and paying rent. I come out way, way, way, WAY ahead after depreciation, deducting taxes, mortgage, all expenses even after declaring rental income. [/quote]

You have to make a relat Felt low income to deduct anything above rental income on your taxes. It used to be $100k unless you were in the real estate business. Most people in this area are wel above that. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics