Rental Income and expenses

[Peddayana]

bros who file taxes on rental income , please throw some light on what expenses we can file for

Can we add HOA, Pest control, any maintenance, property management fees etc?

 

[GelakoduKri]

44 minutes ago, Peddayana said:

bros who file taxes on rental income , please throw some light on what expenses we can file for

Can we add HOA, Pest control, any maintenance, property management fees etc?

 

yes can add them all plus property taxes and interest paid on mortgage 

[nag]

6 hours ago, GelakoduKri said:

yes can add them all plus property taxes and interest paid on mortgage 

 rental income antha scene ledu gaani manaki. 

Question - Interest paid on Mortgage only for first year or every year ?

[megadheera]

6 hours ago, Peddayana said:

bros who file taxes on rental income , please throw some light on what expenses we can file for

Can we add HOA, Pest control, any maintenance, property management fees etc?

 

HOA, trash, sewer, property taxes, mortgage interest, repairs, gas if you make any trips. Home insurance

[jaikol]

Depreciation is the cherry on the top. Hope you are claiming it on tax returns.

[Vaaaampire]

Talk to tax consultant. U can claim taxes, interest paid, hoa, maintenance etc etc. 

 

[Peddayana]

8 hours ago, jaikol said:

Depreciation is the cherry on the top. Hope you are claiming it on tax returns.

yet to do bro, how does this depreciation work?

 how do we determine the property value and depreciation?