Renting at a loss

 In RealEstate

Hi everyone, we have been unable to sell our house due to the current market, and the cash loss needed to drop the price enough to sell is not possible for us. We have to move for a family emergency and have only been in the home for 2 years. We’ve decided to rent the home, at a slight loss of $200 per month but this also includes full property management service and our community is hot for rental properties. We have more than enough income for this to be easily palatable for us to hold on to the asset for a better market.

Will this screw me on taxes? I don’t quite understand if the rental income is seen as gross income and not towards the loss of being $200 or if the government even considers that.

Any insight would be amazing 🙏

submitted by /u/Jrd45009
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