Question

I have a rental property I have never claimed I let a person live there and I don’t charge him and I also make payments on the property every month could I claim this

Forum|Forum|6 years ago
January 19, 2020
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TurboTax Deluxe Online

Employee

Since you do not charge any rent, essentially what you have is a second home, not a rental property. Any day you rent to anyone at less than a fair rental price is a day of personal use.

See https://www.irs.gov/taxtopics/tc415 --- IRC §280A(d(2)(C)

You can deduct mortgage interest (with certain limitations) and real estate taxes (with certain limitations) if you itemized deductions on Schedule A.

See https://www.irs.gov/instructions/i1040sca