Some were purchased primary residence, others rental

For the rental, the rent is your income, and the interest, tax, condo fee or HOA, any kind of repair, are all your expenses. So your net income equals rent minus expenses.

I think you mixed expenses with depreciation. You can claim depreciation for your rental property which is the purchase price divided by 22.5 years. If your income is greater than something, you will not be able to claim depreciation.

所有跟帖： 

• can you deduct interest, repairs paid for the rental house? -redflag- ♀ (0 bytes) () 02/28/2007 postreply 11:58:02

• yes -小小石头- ♂ (0 bytes) () 02/28/2007 postreply 12:00:21

• so, when calculating the profit from rental house, it shouldn't -redflag- ♀ (50 bytes) () 02/28/2007 postreply 12:03:04

• for rental house, not from rental house -redflag- ♀ (0 bytes) () 02/28/2007 postreply 12:03:46

• ?? -小小石头- ♂ (0 bytes) () 02/28/2007 postreply 12:08:26

• 多谢!你说得没错,刚刚回头看了一下,确实是Depreciation -本命年的猪- ♂ (13 bytes) () 02/28/2007 postreply 12:00:41

• well, you can if you get -drdoctor- ♂ (18 bytes) () 02/28/2007 postreply 17:48:14