topic Hi, I live in UT & have rental property in FL. When I rent, customer pays 12.25% in taxes (state & county) of which I remit. Do I deduct those taxes from my total income? in Investors & landlords

Hi, I live in UT & have rental property in FL. When I rent, customer pays 12.25% in taxes (state & county) of which I remit. Do I deduct those taxes from my total income?

gieselman72 — Thu, 06 Jun 2019 09:58:01 GMT

"Do I deduct those taxes from my total income?" You dedu...

Anonymous_ — Thu, 06 Jun 2019 09:58:02 GMT

"Do I deduct those taxes from my total income?"

You deduct those taxes from your total income only if you included those taxes in your total income. If you treated the taxes as a pass-through (from the customer to you to the state and county), then you do not deduct the taxes from your income.

I did "pass through" ... Thank you. So in cases of "pass...

gieselman72 — Thu, 06 Jun 2019 09:58:03 GMT

I did "pass through" ... Thank you. So in cases of "pass through," don't include the tax charged to customer as income and don't deduct those paid taxes FROM income either.

Correct.

Anonymous_ — Thu, 06 Jun 2019 09:58:05 GMT

Correct.

topic Hi, I live in UT &amp; have rental property in FL. When I rent, customer pays 12.25% in taxes (state &amp; county) of which I remit. Do I deduct those taxes from my total income? in Investors & landlords

Hi, I live in UT & have rental property in FL. When I rent, customer pays 12.25% in taxes (state & county) of which I remit. Do I deduct those taxes from my total income?

"Do I deduct those taxes from my total income?" You dedu...

I did "pass through" ... Thank you. So in cases of "pass...

Correct.

topic Hi, I live in UT & have rental property in FL. When I rent, customer pays 12.25% in taxes (state & county) of which I remit. Do I deduct those taxes from my total income? in Investors & landlords