Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-11-2011, 05:14 AM
Junior Member
 
Join Date: Apr 2011
Posts: 2
My Home is Now Mostly Rental

I own my house, free and clear, with no mortgage. I lived in it for 13 years. I moved to a foreign country and now live out of the U.S. 10
months a year and in my stateside home 2 months a year. I rent my house for much of the 10 months I'm gone and declare all monies collected from rentals when filing my federal taxes. Am I legally able to do
this? If so, any repairs, maintenance, utilities and other legiitmate expenses
relating to the rentals should be allowable. Am I correct?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
My rental expenses for renting primary home egmacrae Rental Real-Estate 1 04-16-2010 01:48 AM
Sale of house - was rental, then primary home joespnet Homeowner Tax 0 07-31-2009 05:16 AM
First time home buyer partial rental property bojopookie Miscellaneous 0 03-01-2009 11:33 AM
Second Home was used as Rental Property workout Rental Real-Estate 1 02-06-2009 10:06 PM
Deducting losses on a Rental Home mattgetty Rental Real-Estate 0 01-24-2009 05:28 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning