Quote:
Originally Posted by cSpooge
There is a difference here. Medical expenses weren't actually audited they were reviewed which is done by a low level employee.
Your rental loss would require and actual auditor to review and would be a formal audit.
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Yeah, this. The trick with medical expenses is determining the 'Net Amount.' Which is the 'out-of-pocket' amount after potentially several levels of coverage.
Ironically, while you have to be thorough, sometimes sifting through mountains of Medical expenses can be harder than going through a Rental schedule.
In a rental your expenses are what they are, with medical you could get someone claiming an expense without showing you the insurance re-imbursement and now you've over-stated an expense.
Whereas with a Rental. Your Property Taxes are what they are, your Mortgage Lender sends you a statement, its usually very clear for the most part.