Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago,
Preparing taxes for future investor
So I have not begun investing yet, but hope to as soon as possible.
I hear from a lot of investors that they buy their first property, and then have trouble securing loans for the next 2 years, because they cannot count rental income towards a mortgage.
I have been subletting an extra room to a friend for a little over a year now. If I declare this income on my taxes, can it be counted as a year of rental income to help me get past the first 2 years?
Any tips would be appreciated.
Thanks!
-Ryan