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Updated about 7 years ago on . Most recent reply

Kristy Brueggemann's profile image
Kristy Brueggemann's profile image
Kristy Brueggemann
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Kristy Brueggemann's profile image
Kristy Brueggemann
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Kristy Brueggemann
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Starting Out

Where to hold rental income

Kristy Brueggemann
Posted

Hi there,

My name is Kristy and I am putting my townhome in Davie, Fl up for rent this month. I have never had rental property before. When you collect rent money, is it better to have a separate bank account specifically for the property? I am thinking ahead and want to know what will work to my advantage when I have to do my taxes next year. Any and all advice would be appreciated!

Thanks in advance,

Kristy

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Wendy N.'s profile image
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Wendy N.
  • from Washington, District of Columbia
  • Member since Oct 28, 2013
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Wendy N.'s profile image
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Wendy N.
  • from Washington, District of Columbia
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Wendy N.
  • Washington, DC
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Wendy N.
  • Washington, DC
Replied

Agreed. Separate account is best.

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