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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28081
Experience:  Taxes, Immigration, Labor Relations
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if I rent my condo. in Ft. Pierce, Fl , how much tax do I owe

Resolved Question:

if I rent my condo. in Ft. Pierce, Fl , how much tax do I owe and to whom?
Submitted: 7 years ago.
Category: Tax
Expert:  Lev replied 7 years ago.

If you rent your property and receive a rental income - such income should be reported on the federal tax return - schedule E -

You will deduct qualified rental expenses - such as interest paid on rental property, real estate taxes, maintenance expenses, depreciation of your condo, etc - see the schedule E for other possible deductions.

The net rental income will be added to your taxable income and will be reported on the form 1040 line 17 -

Your tax liability depends on your total income, filing status, other deductions and credits.


Florida doesn't have income tax.

However - if you rent to the tenant and that not his/her principal place of residence - so-called "transient rental" - you might be a subject of sales tax - see more details -


Let me know if you need any help.


Lev and 4 other Tax Specialists are ready to help you
Customer: replied 7 years ago.
My question is how much tax do I charge my renter for local taxes?
Expert:  Lev replied 7 years ago.

If that is a primary residence for the renter - you do not charge any tax from renter.

Let me know if you need any help.


Customer: replied 7 years ago.
This rental is for two months for a vacation.
Expert:  Lev replied 7 years ago.

If a rental or lease of living or sleeping accommodations is for less than six (6) months it is considered to be a transient rental.

Anyone who rents living or sleeping accommodations must file an Application to Collect and/or Report Tax in Florida with the Department of Revenue.

A separate dealer's certificate of registration is required for each property.


The tax collected will also depend upon the Local Option Tourist Development tax rate plus any locally imposed Discretionary tax.

These two rates will be added to the Florida state rate of 6%.


St. Lucie Discretionary Sales Surtax Rates for 2008 - .5%

Contact information

Ft. Pierce 3111 N. University Dr. (Suite 501) Coral Springs, FLNNN-NN-NNNN/p>

Joseph Sexton, Sr. (NNN) NNN-NNNN [email protected]


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