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Updated almost 2 years ago,
Rental Expenses - Lending
Hi all, I have a question I can’t find an answer to.
Would it help me get pre approved for a new owner occupied mortgage if I omit rental property expenses in my tax return? ($13,000)
My family and I would like to move but with the high interest rates and home prices, I’m feel like I should maximize our chances of getting pre approved.
I remember hearing somewhere that the IRS doesn’t care if people choose to pay more in taxes. They just don’t want people hiding income to lower their tax burden.
I’m ok omitting the expenses and paying more in taxes if it increases my chances of getting pre approved.
Thoughts on this would be appreciated!