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?