Landlords with Several Properties

  Q: Can all of my properties be grouped together as ALL INCOME and then ALL EXPENSES, even though one of my properties might be making a profit & another one making losses.      

28th August 2015

A: You will need to calculate the rental profit for each property separately first. This can be done by taking the income for each property and deducting the relevant costs for each, such as mortgage interest incurred (75%), accountancy fees, repairs and maintenance, letting agent fees etc. Once this is done you will be left with the profit or loss for each property, you can then at this point add altogether to calculate the overall profit/loss.

It should be noted though that foreign properties should not be included in this calculation, only Irish Properties.

If you incur an overall loss this can be carried forward against future Irish rental profits indefinitely. It cannot be offset against other sources of income. 

 

 

 

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