Is sale of rental property considered passive income?

Answer According to the IRS, there are only two kinds of passive income: trade or business activities in which you do not participate materially, and rental activities. If you recognize gain from the sale... Read More »

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What Is Considered Abandoment of a Rental Property?

The laws in each state across the country regulate when a landlord may consider a rental property abandoned. These regulations also detail what a landlord must do with any remaining personal proper... Read More »

Is Rental Income Considered Self Employment for SSI?

More than seven million people turned to Supplemental Security Income (SSI) in 2011 for financial relief, according to the Social Security Administration, and many more may be eligible but haven't ... Read More »

Residential Rental Property Income & IRS Tax Rules?

People have many reasons for renting residential real estate. Some people rent out their primary residence due to job transfer or loss, or as a means to make additional money after purchasing a new... Read More »

Can flood insurance be purchased for rental income property?

Yes, for residential rental property, flood insurance can be purchased up to $250,000 or the replacement cost value of the property, whichever is lesser.