Common Rental Property Deductions
Depreciation
Residential rental properties can be depreciated over 27.5 years. This is often one of the largest and most valuable deductions available to landlords.
Mortgage Interest
Interest paid on a loan used to purchase or improve a rental property is fully deductible against rental income.
Repairs & Maintenance
Costs to repair and maintain the property (painting, fixing appliances, plumbing repairs) are generally deductible in the year incurred.
Property Management Fees
Fees paid to property managers or leasing agents are a deductible business expense.
Insurance Premiums
Landlord insurance, liability coverage, and other property-related insurance premiums are deductible.
Property Taxes
Real estate taxes paid on your rental property are fully deductible as a rental expense.
Advertising
Costs for listing and advertising your rental property to prospective tenants are deductible.
Travel Expenses
Mileage and travel costs to visit your rental property for management, repairs, or showing it to tenants may be deductible.
Professional & Legal Fees
Accounting, legal, and tax preparation fees related to your rental activity are deductible.
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