Having trouble getting my head around this.
Renting out a single family home in California.
I read about the 27.5 year depreciation aspect and plan to utilize it.
The last few years I have not had enough income to warrant filing a return.
The gross from the rental, after the property taxes and the depreciation, would not warrant enough to file if I can still use the Standard Deduction.
But is this double dipping using the standard deduction and rental income reduction?
What am I missing here?
Thanks in advanced.
