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today we will talk about IRS publication 527 residential rental property IRS publication 527 residential rental property is a document published by the internal revenue service that provides tax information for individuals who own Residential Properties that are rented out for income typically all income earned from rental properties is reported to the IRS though the type of rental activity will alter which sections of the tax form that income is reported IRS publication 527 outlines how to account for property depreciation what types of deductions can be made on rental income as well as what to do if only part of a property is rented IRS publication 527 is composed of five chapters of tax instructions that detail everything Property Owners need to know about the tax consequences of renting out their second homes including the deductions that may be taken tax Bayers should consult publication 527 before renting their homes in order to learn how rental income is treated by the IRS the I

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