Serbinski Accounting Firms

Thanks for the quick reply. I read somewhere that rental income is considered a passive activity. Is this true? Does that mean that I cannot use the net loss to offset my US income? Finally, I bought the property in November 2003, but I did not know about the depreciation requirement in the US and t...

Hi, I'm a Canadian citizen and I've been living & working in the US for 3 years now. I bought a rental property in Canada and I was wondering if I could report the income & expenses on schedule E just as if the property was in the US? I'm currently expensing the mortgage interest as part of ...