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can i include rental income from my condo that I bought just last month

I have bought a condo out of state and am currently applying for a mortgage for a home where I actually live , as primary home. Can i include the rental income from the condo that I just bought as part of my income? I heard conflicting things about it, like some say that income has to be there for two years and others dont think thats the case. will appreciate clarification
  • May 28 2012 - Buffalo
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Answers (2)

it depends, if that is your only investment property? If so you will have to wait until 1 years tax return with the rental income.  Are you looking to refinance or purchase? 
  • May 29 2012
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Profile picture for hmostafa
You can claim the income after one year, once your tax is done, when this rental income will be on the section E your income tax.
  • May 28 2012
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