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No, you will need to enter the actual amount you received for rent. Then you will enter your expenses as you continue through. Your mortgage principal is not deductible as an expense, only the interest paid on the mortgage is deductible. You can also deduct things like property taxes and general repairs and maintenance, but you will need to enter it all.
No, you will need to enter the actual amount you received for rent. Then you will enter your expenses as you continue through. Your mortgage principal is not deductible as an expense, only the interest paid on the mortgage is deductible. You can also deduct things like property taxes and general repairs and maintenance, but you will need to enter it all.
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