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Reply to "Help with managing money from a rental house"
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[quote=Anonymous]Remember that you will need to claim the rent as income on your tax returns. And keep track of your expenses related to the rental as those are deductible. As for reserves, it depends how much cushion you have financially and how much your mortgage is, if any. When I had a rental property I didn't set up separate reserves other than the security deposit. [/quote]
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