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beth owns a duplex, lives in one unit and rents out the other unit. she rented...

beth owns a duplex, lives in one unit and rents out the other unit. she rented it for 185 days. she provides cleaning svcs and fresh linens on a daily basis. how does dhe report this rental income on her taxes
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Answer #1

Beth have to report every penny of income received from renting out the one unit of duplex and would income every income ancillary to this such as application fee , security deposit etc.

Beth could claim all her operating expenses as deductions which would include property taxes, mortgage interest, all utilities that she paid for tenant, maintainance fee, third party services etc.

Hence Beth should report on rental income she receives for 185 days and all that she paid for cleaning services and fresh linen on daily basis should be deducted from her rental income.

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