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Updated over 8 years ago on . Most recent reply

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21
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2
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David Jesse
  • Jax, FL
2
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21
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Do I pay income tax on rent income paid towards mortgage?

David Jesse
  • Jax, FL
Posted

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?

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