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Posted by Missy on April 12, 2006, 7:55 am
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josh00@comcast.net wrote:
> New to rental income ... confusing in the turbo tax
> questionaire ...
>
> I claimed $15600 on rental income but I also had a 10800
> mortgage payment for the year. It allowed me to claim
> repairs, but it nev er asked me about mortgage I paid on the
> rental? Isn't the net "income" rental income minus mortgage
> payment? I can claim mortgage interest?
>
> What can / can't you claim to offset income?
If you are new to rentals, you should get a professional to
do your return, at least for this year.
Missy Doyle
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