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)?
01973
1 Replies
MaryK1
Level 9
Jun 4, 2019 2:12:18 PM
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)