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by mrrw on March 28th, 2009
If you own the property that the tax was paid for then it is indeed income for you.
by Rollie on March 28th, 2009
I am trying to understand your question. You own property and rent it out, right? You are wondering if some of the rental income includes property tax money, right?
Based on my understanding, Rentals income paid to you as a property owner should be set to include the cost of repairs, interest you must pay on any loan you have on the property, a decent return on your investment (usually about 6% or so) and the cost of your taxes on the property and any utilities you are paying (if you are paying them).
An increase in taxes usually means an increase in the cost of rent to your tenants. Sometimes that will mean that you can't increase until a new lease is drawn up with a current tenant or with a new tenant.
by Sherri on March 28th, 2009
Interesting question..probably YES as it is relieving you of a debt you are responsible for. But who is going to know?
When completing a 1098 return of a partial mortgage is the interest calculated on the original mortgage figure or on the new(investors) mortgage figures?
by Anonymous on March 2nd, 2009
| 1 person likes this
Can I take the first time home buyers credit if: 1) for 2007 I filed as married filing jointly and for 2008 I'm filing as single (divorced), but I hadn't lived in the marital house for over 5 years, 2) I purchased my own home
by Anonymous on February 3rd, 2009
| 1 person likes this
I am on ssi and trying to buy a home... i am doing the non traditiona trade lines.. because i have "NO" credit not bad credit just no credit...and was wondering how the down payment money would effect my ssi or not at all
by elizabethia on February 24th, 2009
| 1 person likes this
Does Proposition 13 pass to the next property owners or does it end with the one' who recieved it first?
by CaRbOnPrOdUcK is Baccuss on January 18th, 2009
| 4 people like this
We are married and own rental property, but our joint income exceeds $150,000. Is there any way to get a deduction for losses on the rental property?
by Melinda on March 23rd, 2009
| 2 people like this
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