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Updated about 8 years ago on . Most recent reply

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Dan Paoly
  • Pittsburgh, PA
0
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renting for a loss and taxes

Dan Paoly
  • Pittsburgh, PA
Posted

I am considering listing my rental with a price that would lose me 200 a month.  What kind of write off would I be looking at on my taxes.  Using round numbers here is my situation.

I bought a new house for the family and instead of selling are old house we decided to rent it.  Market says rental price should be around 1600, I need 1800 for my mortgage.  I have had the house listed for several months now and keep hearing the same thing from prospective tenants, I can get more for less.  I figure taking a 2400 dollar hit is better than continuing to lose a full month mortgage payment.

Thansk

Dan

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