Your rental income calculation is not that correct.

来源: suhang 于 2007-11-16 11:21:34 [] [旧帖] [给我悄悄话] 阅读数 : (370 bytes)
本帖于 2007-11-17 09:50:59 时间, 由普通用户 表情符号 编辑

1. If you treat it as a rental property, you can not itemize deduction property tax and mortgage interest since they should be deducted as rental property cost.

2. Only if you rental it out and your tenant would like to pay you cash and you don't report this income, you can itemize deduction property tax and mortgage interest as it is your residential home.

所有跟帖： 

• No tax deduction at all? That will be a big problem. -QinHwang- ♂ 给 QinHwang 发送悄悄话 QinHwang 的博客首页 (0 bytes) () 11/16/2007 postreply 11:34:33

• 回复：No tax deduction at all? That will be a big problem. -suhang- ♂ 给 suhang 发送悄悄话 (298 bytes) () 11/16/2007 postreply 11:39:21

• 回复：回复：No tax deduction at all? That will be a big problem. -QinHwang- ♂ 给 QinHwang 发送悄悄话 QinHwang 的博客首页 (305 bytes) () 11/16/2007 postreply 11:55:24

• 回复：回复：回复：No tax deduction at all? That will be a big problem. -suhang- ♂ 给 suhang 发送悄悄话 (248 bytes) () 11/16/2007 postreply 12:02:03

• Thank you very much for your suggestions! -QinHwang- ♂ 给 QinHwang 发送悄悄话 QinHwang 的博客首页 (0 bytes) () 11/16/2007 postreply 12:07:13

• Yes, you can. You need to pay tax as inventest property. -Mom3- ♀ 给 Mom3 发送悄悄话 Mom3 的博客首页 (128 bytes) () 11/16/2007 postreply 11:38:37

• That is not very bad; good to know that. -QinHwang- ♂ 给 QinHwang 发送悄悄话 QinHwang 的博客首页 (0 bytes) () 11/16/2007 postreply 11:42:13

• Remember there is an AGI limit for claim expense/loss. -FaCai168- ♂ 给 FaCai168 发送悄悄话 FaCai168 的博客首页 (0 bytes) () 11/16/2007 postreply 20:31:17

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