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Get And Sign SMALL RENTAL PROPERTY PROGRAM Policy &amp Road2la 2015-2021 Form

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hi I'm April here with your tax fact so what happens if you can't sell your home and you've moved into a new one a lot of people these days will simply rent out their old home without really thinking about the tax consequences there are also a group with you that buy real estate and rent it out as an investment I'm going to go through a couple things to take care of how you're going to file the rents on your income tax so let's get started you'll want to be sure to keep track of the rental income and expenses that you spent for the year I would recommend that you either use Excel or just simply a book that you can jot everything down in one place it's really easy so you want to keep track of the rents that you receive making sure to know any security deposits that you may have done now security deposits aren't taxable because you're going to return them to the tenant unless of course they broke something but you're not going to need to worry about that on your taxes the expenses to kee

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