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belaam0
New Member

Is rental income revenue or profit?

When claiming income from rental property, do I claim the total amount paid by the tenant to me or do I claim how much money I made on the property (rent income - mortgage payment)?
1 Reply
MaryK1
Level 9

Is rental income revenue or profit?

You  must enter the gross income and then expenses to get the net rental income/loss.  The information for both has to be reported to the IRS (especially for depreciation expenses)

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