Rental property is treated much like a business.
Income is generally rents, and expenses are those associated with maintaining
There are various scenarios for rental property.
Lets review a few of them:
100% Rental, owner managed:
Three family home – owner lives in one third.
Vacation home rental.
Passive Loss Rules and Rental
Deductions for rental property include:
Tenant Security Deposits
Rental property acquired, sold, or refinanced?
Report this activity to Hoffman on
sheet 18 (the
rental activity) and
sheet 22 (depreciation of the property).