Reply to If you have rental property, how much do you make every month?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are in he negative every month wrt mortgage and fees. However we make up for it at tax time :)[/quote]

How? How can you write off the loss of you aren't in the real estate business and make more than $110,000 a year?[/quote]

I would assume s/he is depreciating the property.[/quote]

But even if you depreciate, you can't offset anything but rental income right? I don't own any rental property, but it doesn't seem worth the effort of dealing with tenants if you don't make any money. [/quote]

Yes, this is what I'm asking. Unless you make less than $150,000 you cannot deduct rental losses. 
In my case
Rent $2000
PITI $1000
Condo frees $700
Expenses $100
Depreciation $1000

I have cash flow of $200, but a tax loss of ($800).  I can't deduct that $800 x 12 each year. I have to wait until I sell the condo when I'll have a huge loss thanks to depreciation.

[/quote]no, you wont.
Google Depreciation recap[/quote]

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