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Investors & landlords
Thanks for the reply. The repairs were from an upstairs sewage pipe leak, repairs covered fractionally by insurance, and tenant left. This limited my income but increased my expenses tremendously.
It doesn't make sense that including the small income from rent lowers my SC tax on TT, but then recording the larger associated expenses increases my tax liability significantly. The opposite should have happened-the rent should have increased my tax, and those expenses should then decrease my taxable income.
Very confused...
‎April 7, 2020
9:55 AM