Rental income


#1

When reviewing for CS I spoke to my ex husbands lawyer about the fact that he (my ex) has rental income and I thought he needed to report that as income when figuring out CS- but his lawyer said that because my ex gets around $1,200 per month but has to pay a mortgage on the property plus home owner fees and taxes that there is nothing left to report. He said it is money in and money out- I just looked at him and said "but isn’t all money- money in/ money out?"
Is he correct and if not where is the law saying the guidelines for rental income as I may have to bring it to court or at least to his attention.


#2

You can review the North Carolina Child Support Guidelines with regard to how rental income is treated. Rental income will be reduced by the legitimate “expenses” incurred in maintaining the rental property, including paying the mortgage on the rental property. However, your ex-husband may also receive a tax break for having rental property. An accountant can review the tax return and determine if he actually has “income” versus a wash on the property