Does this count in computing annual income that used in determining spousal and child support.
2007-10-26 16:17:50 · 4 answers · asked by B 1 in Business & Finance ➔ Renting & Real Estate
The PROFIT from the rental income enterprise would be considered as income for purposes of spousal and child support. However, many landlords show a taxable LOSS on Schedule C, thanks to assorted expenses AND depreciation on those properties. If you want a loss calculated into any divorce decree, that would be your choice.
2007-10-26 16:32:34 · answer #1 · answered by acermill 7 · 2⤊ 0⤋
Yes income from rental property is income.
Anything that must be reported to the IRS as income counts.
2007-10-26 23:25:38 · answer #2 · answered by Pamela B 5 · 0⤊ 0⤋
Yes. Child support is based on total income.
2007-10-27 09:33:20 · answer #3 · answered by Classy Granny 7 · 0⤊ 0⤋
Yes it is considered income. Only after any costs are considered in. So Net profit taht can be expected over the next coulpe of years
2007-10-26 23:59:33 · answer #4 · answered by Bob D 6 · 0⤊ 0⤋