Updated almost 7 years ago on . Most recent reply
Tax deductions for rental property
Hello,
I am looking for sold information on tax deductions for a rental property I currently have (in my profile). This is my first year reporting rent so I don't want to miss any deductions. I was advised the following items are allowed
1) Mortgage interest
2) PMI writeoff (FHA loan)
3) Accounting services
4) HOA fees
5) supplies purchased for the rental
6) Property management fees plus what I pay
7) Homeowners Insurance
8) Repairs
9) Utilities
10) Depreciation (will use straight line method)
11) Mileage to and from the property (about 7 miles each way)
The condo was occupied beginning 2/2018, purchased 11/2017(lease is up 2/28/2019). I would appreciate any suggestions on additional deductions from seasoned rental property owners. Thank you in advance.
David



