Skip to main content
April 15, 2022
Question

Can I deduct startup expenses for a rental property (furnishings, appliances, mortgage interest) in 2021 if I received $0 in income for the year? Renter started in 2022.

  • April 15, 2022
  • 1 reply
  • 0 views
No text available

1 reply

ColeenD3
April 16, 2022

No, this is not a business. You can't take start-up expenses. You can take mortgage interest and property taxes as your second personal home.

 

It is not a rental property until you place it in service and have it available to rent. You will depreciate your appliances and building from that time.