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February 7, 2020
Question

Rental Expenses allowed

  • February 7, 2020
  • 1 reply
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If you have mortgage payments for the property, wouldn’t that be an expense you can write off?  If the answer is no, what is the explanation?  Thanks!

1 reply

DoninGA
Employee
February 7, 2020

Mortgage interest payments are an expense you can enter on a Schedule E for a rental property.  

You should also be depreciating the rental property as an Asset with a recovery period of 27.5 years.  This will cover any mortgage payments which are not entered as an expense.