Will tax deductions negatively affect income for loans?

[Kristen Watts]

Hello all! Question for you: my accountant says I'm entitled to about $7,000 back on my tax return based on depreciation, expenses, etc. on my three properties (one my own home purchased in 2011 and the other two rentals purchased in 2013). However, she says this will lower my income on my tax return significantly below what I actually make in my "normal" job as a teacher. I'm not sure if banks will look at my actual income from my job, or follow the income that will appear if I take the deductions. I'm afraid I won't be able to get any more loans if I take the deductions. Any advice?