SailNet Community - View Single Post - Renting your home while cruising...advice?
View Single Post
  #4  
Old 03-12-2004
smsather smsather is offline
Junior Member
 
Join Date: Mar 2002
Posts: 4
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
smsather is on a distinguished road
Renting your home while cruising...advice?

Stacey -- Get tax software. I use TurboTax, so can recommend it, but other software may work just as well. The $40 is well worth it. It can guide you through all of the stuff on taxes for renting out your home. As was said, as long as you have a mortgage, are paying taxes, and depreciating it, almost always you get a "tax loss" which means more money back to you. The software does all the calculations, you just feed in the numbers (that you would have to get to the accountant anyway). Don''t fret, just do it soon so you know for sure what the situation is. Good luck! -- Steven
Reply With Quote Share with Facebook