 Income tax 2022-2023, rental property, special situations, not rented for profit and example of change to rental use. Let's do some wealth preservation with some tax preparation. Most of this information comes from publication 527 residential rental property including rental of vacation homes tax year 2022 you can find on the IRS website, irs.gov, irs.gov. at the income tax formula we're focused on line one income remember in the first half of the income tax formula is in essence an income statement but just an outline other forms and schedules flowing into these line items one of those the schedule E an income statement in and of itself in essence having rental income minus rental expenses the net rental income flowing into line one income of our income tax formula so now we're talking about renting part of property so in