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Updated about 7 years ago on . Most recent reply

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K Bell
  • Chicago, IL
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6
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With new tax proposal, does it now make sense to rent yourself...

K Bell
  • Chicago, IL
Posted

With new limits on proposed tax plan, should I rent my home to myself

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9
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Joshua Togger
  • Richmond, VA
7
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Joshua Togger
  • Richmond, VA
Replied

Not a CPA, but I every time I see this question about paying rent to yourself my first thought is that that means it would be taxed again. The first time you receive the money (from your day job, other investments) it will be taxed as income, then after you pay yourself it will he taxed as rental income again.

Again, Not A CPA, but even with deductions I don't think would make sense.

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