Catalina 38 Avantura
Join Date: Aug 2000
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Renting your home while cruising...advice?
That is exactly what we are doing right now. We rented out our house last July 1st. I bought TurboTax Premier and it walked me through everything. The previous posters are correct; we ended up showing a loss and almost doubled our refund(compared to showing no income from rental and writing off the home deductions as we have normally done). By renting out your house and claiming depreciation and any other deductions you can, you should come out ahead.