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Old 08-28-2008, 03:45 PM
Cassie325 Cassie325 is offline
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Default Re: To those who rent out their home....
Quote:
Originally Posted by livsea2


(I don't know what happened to my post, but I'll answer again)....I spoke to my adviser who Strongly advised against it. He said every client he knows of who's tried it runs into yearly IRS audits. It's legal and can be done but it raises red flags at the IRS and it isn't worth the trouble. I agreed and will steer clear.
YIKES....good to know and will pass it on to my friends that were interested in this!
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