PRSI on rental income form12

[Pinkpanter]

I am doing my form 12 for revenue.
How is prsi applied to rental income.
I am making a loss on the investment ie
expenses are greater than rental income.
Thanks

 

[murphaph]

If you're really making a loss after deducting allowed expenses (you're only counting 75% of mortgage INTEREST as an expense, right? Not your whole mortgage payment or 100% of your mortgage interest?) then there's no PRSI, USC or Income Tax to pay and you can carry the loss forward to offset any future gains. But I'm no expert on the latter and have never had it myself.

 

[Dermot]

The short answer to your question. You have no liability if you are incurring a loss

 

[Pinkpanter]

Yes rent received is €6600
Less 75% interest and repairs = loss
People were telling me that prsi is applied to
the income of 6600.
So therefore no prsi is due!