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What Is Form 8586: Low-Income Housing Credit
General business tax credits provide incentives for business activities beneficial to the American public or the economy in general. Owners of rental buildings in low-income housing projects may qualify for the low-income housing credit, which is part of the general business tax credit, using Form 8586 to calculate the amount of the credit. Read more…

Tax Deductions for Rental Property Depreciation
When you rent property to others, you must report the rent as income on your taxes. But you can deduct, or subtract, your rental expenses—the money you spent in your role as the person renting out the property—from that rental income, reducing your tax obligation. Many expenses can be deducted in the year you spend the money, but depreciation is different. Read more…

Mortgage Refinance Tax Deductions
When refinancing a mortgage to get a lower interest rate or obtain more favorable loan terms, you're really just taking out a new loan and using the money to pay off your existing home loan. In general, the same tax deductions are available when you're refinancing a mortgage as when you're taking out a mortgage to buy a home. Read more…

Renting Out a Room on Airbnb or FlipKey? How Much You Owe in Taxes
Who couldn't use a little extra income on the side? Short-term vacation rental companies like Airbnb and FlipKey help you find guests to rent that spare bedroom and earn some cash. But, as in any business venture, it's best to figure out the tax implications before you jump in. Read more…

Video: Tax Tips When Renting Out Your Home on Airbnb, FlipKey & Others
5 tax tips anyone can use when renting out a home through Airbnb, Flipkey, and other vacation rental services. You won't want to miss tip number four! Read more…


More Rental Property Articles

What Is a Schedule E IRS Form? Rental Property Deductions You Can Take at Tax Time Cost Basis: Tracking Your Tax Basis What is Form 4835: Farm Rental Income and Expenses Real Estate Tax and Rental Property Tax Tips for Landlords Selling Rental Real Estate at a Loss How to Report a Foreclosed Rental House on Your Taxes Video: Filing Schedule E Supplemental Income and Loss 10 Tax Tips for Airbnb, HomeAway & VRBO Vacation Rentals

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