I just bought a home and I'm planning to rent it for a few months (6-8 to be exact). Do I have to report it as rental income or convert into a rental property and let the city know about it?Home Rental Tax Question?
Any income derived from the rental of the property would be reported on a Schedule E. Considering you are wanting to rent this property very VERY temporarily, certain expenses against the income may be disallowed.
Good luck finding someone to rent for only 6-8 months.Home Rental Tax Question?
yes you have to report it as income and you need a coo.,..good luck finding someone for 6-8 months...
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