Home Buying in Wareham>Question Details

white, Home Owner in 98144

My mom lives in a house I own. I pay the mortgage, taxes, insurances and about half the utilities most the time. Can I claim a rental loss?

Asked by white, 98144 Wed Nov 14, 2012

Help the community by answering this question:

Answers

6
It may depend if you live their too or if it is a rental property in which your mom just happens to rent.n You may want to ask your cpa to review the rules on rental properties to see if you qualify to take a loss.
0 votes Thank Flag Link Fri Feb 7, 2014
not knowing your whole situation... I would say you probably can deduct, the taxes, and the mortgage, on your sch A. Depending how much help you give your mother, you may be able to claim her as a dependent
0 votes Thank Flag Link Fri Feb 7, 2014
I would ask your tax professional to help with this answer and to save time and money.


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
0 votes Thank Flag Link Sun May 26, 2013
You can go to the online chats for the top tax websites for a quick answer
0 votes Thank Flag Link Thu Nov 15, 2012
Interesting question for your accountant, I would say no, but that you can deduct the mortgage interest and taxes as a second home. Keep me posted on what your accountant says.
0 votes Thank Flag Link Thu Nov 15, 2012
This question should be asked to a tax professional
0 votes Thank Flag Link Thu Nov 15, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer