I bought a home contained by colorado which i rent out, but rent surrounded by NY, how do I put this information on my taxes?
I was wondering would it be best to run to a accountant or do you think I can complete my taxes myself close to I have be in yesteryear?
I want to vacate my council house
For tax purposes the IRS does not thoroughness that you are a renter in NYC. This is not income or a deductible expense.
For tariff purposes you do have to report the rental income for you CO property. You can take off direct expenses that you incur for ownership of that property (although be careful and check next to an accountant on what needs to be capitalized). You could jump to an accountant but I believe tax software should saunter you through this.
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