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dave68
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(New)
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04/16/08 06:16 PM
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205.188.117.143
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CS Modification in regard to rental income
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I am making $2 less an hour, and am wondering what is used for CS modification? I own a duplex, and recieve 1 rent. On my tax forms I am incurring several thousand dollars in losses, due to upkeep, taxes, interest,etc.
Would the courts use my ADJUSTED GROSS INCOME for modification, or just lump in rent as income with no reguard to expenses. Thanks. dave
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Samsung
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(Platinum)
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04/17/08 08:19 AM
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71.214.151.197
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Re: CS Modification in regard to rental income
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You can deduct all the normal expenses associated with a rental, with the end result a net income, except depreciation gets added back on for CS calculations.
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dave68
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(New)
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04/17/08 10:44 PM
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205.188.117.143
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Re: CS Modification in regard to rental income
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Thanks for the response. I`m happy to hear that.
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