Talk of The Villages Florida - View Single Post - Tips for New rental by owner
View Single Post
 
Old 01-14-2019, 05:03 PM
retiredguy123 retiredguy123 is online now
Sage
Join Date: Feb 2016
Posts: 17,447
Thanks: 3,048
Thanked 16,619 Times in 6,567 Posts
Default

Quote:
Originally Posted by Md girl View Post
First off know that unless u rent for 6 months or more u will be paying a 9% tax to the state. I know people who don’t pay it but when ( not if) they get caught they also pay a penality as well as all taxes owed. Don’t know how the state knows but they do. We had just stated renting and within 6 months we got our friendly letter from the state.
In addition to the Federal income tax on any profit you make.