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Deductions & credits
Another issue to consider: If you claim depreciation on the property, that depreciation will have to be "recaptured" (pay tax on it) when you sell the property in the future.
I agree with the other comments; it's unlikely that you can claim this situation as rental activity. You essentially have a 2nd home. The mortgage interest and real estate tax paid are deductible, if you itemize deductions.
‎October 19, 2021
5:17 AM