Quote:
Originally Posted by TiltonBB
I doubt, based on my experience, that you could cover all of the mortgage, taxes, and expenses with rental income. However there are also tax advantages you will have by depreciating the house, and, if it loses money those losses will offset some ordinary income.
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Don't forget any depreciation on a business residence must be recaptured when the residence is eventually sold. Uncle Sam may be dumb but he's not completely stupid. Talk to your accountant to learn all the facts. I am not an accountant nor do I play one on TV.
