Divorce Support Forums: CS Modification in regard to rental income

Divorce Support Forums: CS Modification in regard to rental income
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State Support Forums >> New York

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dave68
New

Reged: 04/16/08
Posts: 2

CS Modification in regard to rental income
#197134 - 04/16/08 06:16 PM (205.188.117.143)

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
Platinum

Reged: 06/14/07
Posts: 1874

Re: CS Modification in regard to rental income [Re: dave68]
#197254 - 04/17/08 08:19 AM (71.214.151.197)

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
New

Reged: 04/16/08
Posts: 2

Re: CS Modification in regard to rental income [Re: Samsung]
#197502 - 04/17/08 10:44 PM (205.188.117.143)

Thanks for the response. I`m happy to hear that.

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