In 2021 my rental property calculates to a big negative income - the deductions (property tax, insurance, management fee, mortgage interest etc) can already offset the rental income. So technically I don't need to declare property depreciation to avoid paying any taxes. Turbotax still calculated depreciation by itself so there is a huge negative income for my rental property. I wonder if there is any downside for declaring property depreciation? If there is any negative impact should I not declare property depreciation?
Thanks!
