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Investors & landlords
It may be that your personal use of the property is more than the greater of 14 days or 10% of the days it is rented at fair market value. If so, the rental is considered a residence and when that happens you can't deduct expenses that are more than the net rental income. So, if the rental is reporting a loss, depreciation can become non-deductible to the extent of the loss. You need to go back through your rental entries and make sure you entered the correct number of personal use days and days rented at fair market value if you think your personal use was not more than the greater of 14 days or 10% of the days the property was rented. @TaxMex
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March 15, 2023
7:03 PM