Explore the 1,000’s of tax questions answered by professionals.

Back to list

QUESTION DETAIL

Related User

Votes

I live in New York City and have a house in Virginia that I rent. Am I able to deduct expenses from the rental income?


ANSWER


The BIDaWIZ Team's Answer:

 Generally speaking, rental expenses can be deducted from your gross rental income in the year you pay them.  IRS publication 527 details the types of expenses you can deduct.

The BIDaWIZ Team

 

 

  • Currently 4.6190/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
1547 Ans.

COMPANY INFORMATION




We do not offer or provide any investment advice or services or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction or investment strategy.

Copyright © 2024 BIDaWIZ, Inc. Privacy Policy | Terms & Conditions