All Forum Posts by: B T

Hi everyone!

I have decided to rent out my house in the bay area. My monthly mortgage interest is $3700, property taxes are $1000 per month and I pay around 50 bucks a month for insurance. Let's call it around 4900 a month or so.

Ok so I can rent the place out for 3900 a month which gives me around a $1000 montly loss.

I also make 200K at my regular job. Is there a way for me to deduct depreciation or something to get a tax break on my regular income that will help me weather out this $1000 loss? I will also need to be on the hook for another 2K a month when I lose my tax break from the mortgage interest when I move out and rent a place for myself right?

Thanks in advance, I really appreciate it!