Hi, my husband and me own a condo which has mortgage. We moved from our condo after 4 years since we bought it. We have rented the condo. The rent is 1300$ per month and our monthly cost, plus principal amount of mortgage, interest, condo fee, ..., is almost 1600$. Would you please let me know if do we have still report this as rental income in our tax return? While there is no income or profit for us? Thanks.
