Can I have expenses related to my rental property that exceed the rental income?
Do I have to report rental income for the rooms I rent in my personal residence if my expenses exceed the rental income?
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1 Best answer
JeremyB
New Member
Jun 4, 2019 7:03:18 PM
Yes you should report all income and expenses related your rental property. Turbo Tax will help with calculating the impact of the Net Gain (or Loss) of your rental property on your personal income taxes.
1 Replies
JeremyB
New Member
Jun 4, 2019 7:03:18 PM
Yes you should report all income and expenses related your rental property. Turbo Tax will help with calculating the impact of the Net Gain (or Loss) of your rental property on your personal income taxes.