@Anonymous_ wrote:
Unfortunately, the expenses incurred (if property is treated as an investment) would be miscellaneous itemized deductions on Schedule A and those deductions have been eliminated, for the 2018-2025 tax years, by tax reform (the TCJA).
Even if the taxpayer never lived in the home as their main home, and this is treated as investment property, I believe the mortgage interest and property taxes that they paid can still be deducted as schedule A itemized deductions. Taxpayers can deduct property taxes on any property owned in the US, and they can deduct mortgage interest on their main home and one second home. The actual tax benefits of the deduction will depend on their other tax situations and the SALT cap, and I agree that any deduction for utilities, insurance, or repairs is not allowed.
