Mar 20 2016, 03:12 AM
QUOTE(roadrunner0 @ Mar 19 2016, 10:20 PM)
Anyone can comment on the following for rental income :
property 1 :
after deduct interest paid to bank, taxable income = 7k
property 2 :
after deduct interest paid to bank, taxable income = 4k
property 3: (only rent out few month, not full year)
after deduct yearly interest paid to bank, taxable income = -3k
So in conclusion, my taxable income = 7+4-3= 8k? , or should be 11k ?
i though yearly interest limit to 10k per year, how come you can calculate until taxable income in minus?property 1 :
after deduct interest paid to bank, taxable income = 7k
property 2 :
after deduct interest paid to bank, taxable income = 4k
property 3: (only rent out few month, not full year)
after deduct yearly interest paid to bank, taxable income = -3k
So in conclusion, my taxable income = 7+4-3= 8k? , or should be 11k ?
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