I want to know if I am renting out my house and rent an apartment to live instead. Can I claim the apartment rental expense against the rental income received from the house (assuming the rent from the house is higher than the apartment rental)?
Technically I would not have that apartment rental expense if I continue to stay in my house. The apartment rental expense incurred is to derive the rental income from the house ie if there is no apartment rental expense then no house rental income received.
I hope someone can shred some lights on this.
Technically I would not have that apartment rental expense if I continue to stay in my house. The apartment rental expense incurred is to derive the rental income from the house ie if there is no apartment rental expense then no house rental income received.
I hope someone can shred some lights on this.
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