Updated over 8 years ago on . Most recent reply
Do I pay income tax on rent income paid towards mortgage?
Hello Everyone
I am considering buying a house in California which has a guest house suitable for one person to live in. I may live in the guest house and rent out the main house or vice versa. Do I pay income tax on the rental income? All of it will go towards the mortgage. If yes, are there any steps I can take reduce my taxes?