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?
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?
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.
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