Tax Tips for Owners of Rental Property. How is Rental Income Reported?. Usually on Schedule E. A security deposit is not considered income at the time it is received. Tenant cancellation fees are taxable. Can I Deduct a Loss?. Rental activity is considered a passive activity.
Tax Tips for Owners of Rental Property
Rental property can be a great way to increase your bank account. Make sure you are taking advantage of the tax saving opportunities that are available to you. As a tax professional, I’m available to help you do just that.