how to account for rental income?

Question

I need a good tax accounting book with more information on whats deductible and not deductible.

Answer 1

go into any hr block tax office and they can give you free books to help you find which things you can and cant deduct. keep track of any expenses you incur while getting the property ready to rent or lease. you can deduct things such as, repairs to the property, garbage fees, if you pay the utilities this is deductible. Any money you put into the rental property, keep track of.

Answer 2

go to an office supply store,or office depot !