You don't deduct your mortgage payment.Rental income is:Gross rents, minusRental expenses. Rental expenses would be the interest (but not principal) portion of your mortgage payment, depreciation on the property, and actual expenses such as repairs, insurance, etc.

Question

When entering Rental Income do I use the gross total or my net after deducting my mortgage payment?

Forum|Forum|7 years ago
June 5, 2019
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You don't deduct your mortgage payment.

Rental income is:

Gross rents, minus
Rental expenses. Rental expenses would be the interest (but not principal) portion of your mortgage payment, depreciation on the property, and actual expenses such as repairs, insurance, etc.