Contributed by: Tonya S James, Partner at Vacovec, Mayotte and Singer LLP
In the United States, income earned from the rental of real estate is taxable income. Net income from a rental property is taxed as ordinary income. Losses may be allowed to offset other income in the current tax year or may be carried forward to be used in a later tax year.
US2.2.1ÌýÌýÌýÌý Rental income
A taxpayer will generally include as income gross rental income that is received during a tax year.
The Internal Revenue
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Web page updated on 17 Mar 2025 13:15