We need to live in a different city for 1 or 2 years. If we rent out our principal residence and rent an apartment in the new city do we need to claim the rent as income?

turner1955 · ‎October 30, 2019

TurboTaxBrenda1 · ‎October 30, 2019

Yes if you own a property and you are renting it out- its still considered income. Regardless if you own another home or renting another.

Investors and rental owners