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June 3, 2019
Solved

Are deductions /expenses to my 2 rental homes separate from the standard 24k deduction in 2018 ? 30k rental income, 8k deprec 4k taxes 2k repairs 2k ins ?

  • June 3, 2019
  • 2 replies
  • 0 views

Retired in 2017, so have no other real deductions

    Best answer by Lisa995
    Rental income/exp is completely separate from the Standard Deduction of $24K for Married Filing Joint..

    2 replies

    DoninGA
    Employee
    June 3, 2019
    All income and expenses are entered on a Schedule E for the rental property.
    Lisa995
    Lisa995Answer
    Employee
    June 3, 2019
    Rental income/exp is completely separate from the Standard Deduction of $24K for Married Filing Joint..
    ♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪