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Q&A
Asked by beverlycrousept
Answered by David Moore
Financial Adviser in Brooklyn, NY
Financial Adviser in Brooklyn, NY
YES. Generally speaking, all income needs to
be reported for tax purposes. This includes
rent money, even if the expenses of owning the
home are greater then the ren...
Q&A
Asked by Erin
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Erin,
First, check with your CPA and/or
tax advisor. The IRS has strict rules for
RMD's. Can you elaborate on how you are
treating the Inherited IRA? If you are...