or check out a book at local library, to have some basic understanding on taxation.
1. in short, you need to report income as soon as you put house in market to rent.
2. you need to take depreciation to offset your income.
3. only interest payments are deductible, principle payments are not.
1. in short, you need to report income as soon as you put house in market to rent.
2. you need to take depreciation to offset your income.
3. only interest payments are deductible, principle payments are not.
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