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 […]
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Today TaxMama hears from Susan in the TaxQuips Forum, who tells us. “I have more rental expenses than income, so there’s a loss of $20,000. But I can’t use it to offset any of our income. Can I take the property tax and the mortgage interest that were on my rental house and add it to […]
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