From: thepetpage@aol.com (ThePetPage)
Newsgroups: misc.invest.real-estate
Date: 12 Dec 2004 02:34:41 GMT
Subject: Re: Should I rent out my home?

>I am new to the idea of renting out my home, but I was hoping to get
>some input from someone out there who knows a little about it.

I'm not an investor so some one else here can correct me if I'm wrong, but I
think you could be in trouble tax wise if you fall into certain conditions. 

If your old house is worth a bunch of bucks now but you bought it a loooooong
time ago for a lot less, your "basis" for the house would be basically what you
paid for it, not what it's worth now (+renovation maybe).  When you sell that
house, you would be liable for more taxes I believe.

Just a thought, John