[2008]

In my current situation, marriage and the combined income would definitely push me into AMT. My better half is already subject to AMT

[2008]

In my current situation, marriage and the combined income would definitely push me into AMT. My better half is already subject to AMT

[2008]

In my current situation, marriage and the combined income would definitely push me into AMT. My better half is already subject to AMT

[2008]

And not to jump onto the marriage tax issue – but it does sound like if I ever get married my tax benefits from write-offs get killed by the additional income. sounds like a reason not to get married!

[2008]

And not to jump onto the marriage tax issue – but it does sound like if I ever get married my tax benefits from write-offs get killed by the additional income. sounds like a reason not to get married!

[2008]

And not to jump onto the marriage tax issue – but it does sound like if I ever get married my tax benefits from write-offs get killed by the additional income. sounds like a reason not to get married!

[2008]

I hear you, yes I’m looking at the full cash-in, cash-out. Just meant that the write-off I can take living in the home (mort int +prop tax), versus the additional items I can write-off renting it out (depreciation, HOA, insurance), are offset by the rental income.

Before a reset, my carrying costs are 600/mo post tax implications. Plus whatever it costs me to live somewhere else if I rent this place out.

I’m just looking at the impact over the next 3 years before the reset- not to imply that I would sell in 3 years, but I’m trying to get a financial picture before and after the reset. Once it resets, we’re talking about a bump from $1700/mo to $2400/month in cash out.

[2008]

I hear you, yes I’m looking at the full cash-in, cash-out. Just meant that the write-off I can take living in the home (mort int +prop tax), versus the additional items I can write-off renting it out (depreciation, HOA, insurance), are offset by the rental income.

Before a reset, my carrying costs are 600/mo post tax implications. Plus whatever it costs me to live somewhere else if I rent this place out.

I’m just looking at the impact over the next 3 years before the reset- not to imply that I would sell in 3 years, but I’m trying to get a financial picture before and after the reset. Once it resets, we’re talking about a bump from $1700/mo to $2400/month in cash out.

[2008]

I hear you, yes I’m looking at the full cash-in, cash-out. Just meant that the write-off I can take living in the home (mort int +prop tax), versus the additional items I can write-off renting it out (depreciation, HOA, insurance), are offset by the rental income.

Before a reset, my carrying costs are 600/mo post tax implications. Plus whatever it costs me to live somewhere else if I rent this place out.

I’m just looking at the impact over the next 3 years before the reset- not to imply that I would sell in 3 years, but I’m trying to get a financial picture before and after the reset. Once it resets, we’re talking about a bump from $1700/mo to $2400/month in cash out.

[2008]

I’m single and my deductions last year were higher – primarily because my 80% loan is IO. 20% loan is P&I

[2008]

I’m single and my deductions last year were higher – primarily because my 80% loan is IO. 20% loan is P&I

[2008]

I’m single and my deductions last year were higher – primarily because my 80% loan is IO. 20% loan is P&I

[2008]

FormerSanDiegan –

You can write off more things on a rental. These include: depreciation, insurance, maintenance, and anything related to managing, marketing the rental, etc. Depreciation alone would likely be 10K per year in your case.

You deduct these against the rental income first. Any additional losses (up to 25K, if you make less than 100K) can be deducted against regular income.

I ran a few quick numbers looking at the Schedule E – and my tax write-off is a few hundred dollars more if I stay in the place, versus renting it out as the rental income is greater than what I can write off for depreciation+HOA.

So I’m back to the 70K I’ve already lost in value, plus any additional depreciation over the next 3 years.

[2008]

FormerSanDiegan –

You can write off more things on a rental. These include: depreciation, insurance, maintenance, and anything related to managing, marketing the rental, etc. Depreciation alone would likely be 10K per year in your case.

You deduct these against the rental income first. Any additional losses (up to 25K, if you make less than 100K) can be deducted against regular income.

I ran a few quick numbers looking at the Schedule E – and my tax write-off is a few hundred dollars more if I stay in the place, versus renting it out as the rental income is greater than what I can write off for depreciation+HOA.

So I’m back to the 70K I’ve already lost in value, plus any additional depreciation over the next 3 years.

[2008]

FormerSanDiegan –

You can write off more things on a rental. These include: depreciation, insurance, maintenance, and anything related to managing, marketing the rental, etc. Depreciation alone would likely be 10K per year in your case.

You deduct these against the rental income first. Any additional losses (up to 25K, if you make less than 100K) can be deducted against regular income.

I ran a few quick numbers looking at the Schedule E – and my tax write-off is a few hundred dollars more if I stay in the place, versus renting it out as the rental income is greater than what I can write off for depreciation+HOA.

So I’m back to the 70K I’ve already lost in value, plus any additional depreciation over the next 3 years.

[Author]

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