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In general, will the tax implications of renting be worse or better than owning? (In general, if i make the same, will my federal taxes go up because i'm renting the place out vs. owning?)
I will pay about 17000 in mortgage interest, 9000 in dues, 1000 assessment, 1700 property tax next year. Not sure what the depreciation would be.
I'll earn about 22,200 from rent. So i'll be 6,500 "in the hole" on the rental for the year. My trip east could be temporary so i want to keep the place for one year even though i'll lose money over the year.