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Updated over 8 years ago on . Most recent reply presented by

User Stats

17
Posts
7
Votes
Ryan M.
  • Rental Property Investor
  • Daytona Beach, FL
7
Votes |
17
Posts

Preparing taxes for future investor

Ryan M.
  • Rental Property Investor
  • Daytona Beach, FL
Posted

So I have not begun investing yet, but hope to as soon as possible.

I hear from a lot of investors that they buy their first property, and then have trouble securing loans for the next 2 years, because they cannot count rental income towards a mortgage. 
I have been subletting an extra room to a friend for a little over a year now. If I declare this income on my taxes, can it be counted as a year of rental income to help me get past the first 2 years?
Any tips would be appreciated.

Thanks!
-Ryan

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