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CPAsNET Firm Of The Month

August 2016

If you rent a home to others, you usually must report the rental income on your tax return. However, you may not have to report the rent you get if the rental period is short and you also use the property as your home. In most cases, you can deduct your rental expenses. When you also use the rental as your home, your deduction may be limited.

CPAsNET.com
PO Box 4827 cpasnet@cpasnet.com phone: 609-890-0800
Boulder, CO 80306 August 25, 2016 fax: 609-689-9720