Rental Income and Expenses

This handout describes the various aspects of rental income and expenses. There is also an explanation of the difference between a repair and an improvement and the tax consequences of each.

HIGHLIGHTS: 

  1. Rental income and expenses.

  2. Security deposits.

  3. Vacant property.

  4. Insurance and interest expenses.

  5. Repairs and improvements.

  6. Roommates.

  7. Personal use of property.


CLIENTS WHO MAY BENEFIT:

  1. Taxpayers with rental real estate.

Business, Individual Income TaxClare FazackerleyBusiness, Business Tax, Expenses, Receipts, Renting, Landlord, Rental Property