Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 04-07-2012, 04:57 PM
Junior Member
 
Join Date: Mar 2011
Posts: 6
Claiming rental income & expense

Husband & wife owned a two family, now they are separated, husband is living in the basement apt, wife lived on 1st floor and 2nd floor is rented. Husband collected all rental income in 2011 and deposited it into his account
personal account, he also paid all expenses(100%) mtge, taxes etc. Can he claim the entire rental income on schedule E and deduct the entire expenses allocated to the rental apt.



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
 



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
Gross Annual Income and Claiming Children slickmetal Divorce Tax Issues 1 01-21-2012 02:12 AM
Question about Travel expense and income tax coolpet C-Corporation 0 07-31-2010 05:58 PM
Retroactive expense claiming for new S-Corp ej122493 S-Corporation 4 01-20-2009 12:02 AM
179 Election to Expense vs income limitation Donna Depreciation 0 10-14-2008 01:21 PM
claiming commuting expenses on income taxes kenne Income 1 04-04-2007 01:44 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
 
 
 

» Recent Tax Q&A
No Threads to Display.