I have been renting my rental property at below fair market value, so the rental income I get from that property is considered not for profit rental income correct? If so I am allowed to deduct the mortgage interest and property tax as expenses from the not for profit rental income?
Also, if my total expenses (mortgage interest + property taxes) is more than my total not for profit rental income then I have no rental income to report under the "Miscellaneous Income, 1099-A, 1099-C" -> "Other reportable income" section?
