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Investors & landlords
It can only be entered as a rental expense.
If the rental expenses exceed rental income, your rental has a loss. In SOME cases that loss can offset your income from your job, but in other cases that loss is suspended until either (a) you have rental profit (or other passive income) or (b) you sell the property.
In other words, that rental interest expense will eventually be able to used (even offsetting your job income).
If the rental expenses exceed rental income, your rental has a loss. In SOME cases that loss can offset your income from your job, but in other cases that loss is suspended until either (a) you have rental profit (or other passive income) or (b) you sell the property.
In other words, that rental interest expense will eventually be able to used (even offsetting your job income).
‎June 5, 2019
12:01 PM