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Subject:  Rental Income Date:  2/22/1999  11:49 AM
Author:  csimonsl Number:  10710 of 127753

HELP!! Could somebody please explain how I should figure Rental Income. This is my situation.

My husband and I bought our house in 1996. He just got a new job last year that forced us to move, and instead of selling our new house, we decided to rent it. Our tenants pay exactly what our mortgage payment is. So, in a sense, we are making no money on our rental. How do I show that on my taxes? I enter the amount from the income, but what about the expense. Right now, my taxes say that we made profit on the rental. But, we didn't. Any help would be appreciated. Thank you!
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