First, it's important to enter the date the property became available for rent, advertised and/or marketed for rent. This is the date placed in service whether or not it was actually rented on that date.
As indicated by @CatinaT1 the mortgage interest and property taxes are currently deductible in the year paid if you can itemize your deductions and if the rental was not yet available in 2025. If not, they will not be allowed as an expense or startup cost in 2026. These expenses are allowed as rental expenses once the property is available for rent .
If your date placed in service is 2026, then here is some information about the startup expenses:
- Pre-rental expenses. You can deduct your ordinary and necessary expenses for managing, conserving, or maintaining rental property from the time you make it available for rent.
- IRS Publication 527 (page 5)
@nerobins
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