What is tax deductable when renting out a house?
Can anybody point me in the direction of where I would find out just what all is deductible when renting out a house? I'm in the process of buying a brand-new house that I can't retire to for another 2 years and want to rent it out as unfurnished in the meantime. I'm sure that some of what I'm putting into the house (such as the washer and dryer I bought over the weekend as we can't move our existing washer and dryer down just yet!) might be at least partly deductible but I don't know which.
Thanks in advance for any helpful replies! |
Your tax guy or girl will have the answers you need for your situation
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I suggest you contact an accountant/tax guy since, unless you get one here, you will get responses around what people do, not what is legal, and there is a difference.
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Contact a Florida CPA. I recommend Judith Dacey of JDSumter in Summerfield.
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Pin my opinion, your best bet is to meet with a Florida CPA. I tried to give a name but the post was removed. Not sure why. I think the CPA in Summerfieldi in the same shopping center as Little Joeys.
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Nothing
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Google it or better yet get yourself a good tax man. Lots of benefits to having a rental property, tax wise, but you better know what you are doing. Good luck
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Your tax accountant is the best person to answer this question. There are so many variables...
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