How do I distinguish tax return from Investment Property?
Hello,
My wife and I now own a residential property after living in a multi-family we have owned for many years.We each also have a day job.At the end of the year, we always get a tax return.However, we do not know how to determine where specifically the return comes from.
What we would like to do is determine how much of the return comes specifically from the Investment property so we reinvest that portion back into the property.
Is there an easy way to figure this out?Or should we talk to a CPA?