Tag Archives: Affordable housing

Unreasonable Rent

  Today TaxMama hears from David in the TaxQuips Forum with this question. “My mother has owned rental property for many years and she has a tenant in one side of a duplex that has been there about fifteen years.  My mother has always been reluctant to raise the rent on “good” tenants so this […]

Home Office or Rent

Today TaxMama hears from Leslie in the TaxQuips Forum, who is quite clever. “I am helping a friend out with her business.  She currently takes a deduction for having a home office for the company that she runs out of her home. Would it benefit her more to charge the company rent?  I know she […]

Renting Losses

Today TaxMama  hears from Alissa in the TaxQuips Forum. She wants to know, “The mortgage on my rental property is $1,500 (including tax, insurance, & a 2nd). But I only charge $1,200/month for rent because that is the going rate in the neighborhood. Do I still report the $1,200 as rental income even though it […]

Just one Room

Today TaxMama hears from Charles in the TaxQuips Forum. He tells us “I am going to rent my second home to some people starting in June.  It will have some furnishings that we will allow them to use.  Our personal property that we don’t want them to use will be in a locked bedroom, maybe […]

Renting Out Rooms

Today TaxMama hears from Bloomers in the TaxQuips Forum. She is renting out the rooms in her 5-bedroom house. Bloomers asks.  “What are the laws for renting out rooms?  If the amount I am making in rent every month, on average, does not amount to the total cost of the mortgage and house expenses, is […]

Rental Hobby

Today TaxMama hears from Kevin in Arizona, who wants to know, “How often does a rental property have to be rented or income made to qualify as a rental? Looking at the numbers, I doubt ours can go cash positive for at least 4 years. From reading your articles, it seems that the IRS will […]