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Updated almost 8 years ago,
Being able to SHOW Rental Income as Income ......
I have a quick question please, regarding How Long you have Rent out a Property, for it to Qualify as Rental income on your Taxes ?
Say I Rent out my Property in March ..... Would from March till the End of the year ( so 9 months ) , would this be Long enough amount of time for it to qualify as a Rental/Rental income via my Taxes ?
I am trying to make sure that I fully understand if I'll be able to claim this as Rental Income, since I need to show this as EXTRA Income in combination with my Income from work , to Help with my DTI , with regards to getting Financed and approved for a Loan for my next Rental Property.
If I can't claim the Rental Income for 9 months ( vs 1 year , which is what I've heard Lenders want to see you having been renting out any Single property ) . then i won't be able to get approved on a Loan for the next Rental
Hopefully my question makes sense lol
Thanks so much