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Anne
Anne, Master Tax Preparer
Category: Finance
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Experience:  Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
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I own a vacation rental property in Up state Pa and had to

Customer Question

I own a vacation rental property in Up state Pa and had to put it in a short term lease last year. Besides real estate taxes what other taxes do I have to pay?
Submitted: 11 months ago.
Category: Finance
Expert:  Anne replied 11 months ago.

HI

I'm Anne. I've been preparing taxes for 27 years and I'll be happy to help you.

You will need to pay income tax on the rental income less your expenses, (real estate taxes, mortgage interest, utilities, repairs, depreciation, etc) Please see below for more indepth information:

https://www.irs.gov/pub/irs-pdf/p527.pdf

If you have any questions, please post them here and I'll be notified

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