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Investors & landlords
Yes. You have to figure out what expenses are the whole year and what expenses are just for the rental.
Property taxes are the whole year. Divide that by 12 and then multiply it by the number of months rented and that is your property tax deduction for the year. Insurance, mortgage interest, etc., same thing.
Anything you spent directly for the rental is a deduction entirely. A repair that you do or a bill you pay is 100% deductible.
This all gets even easier next year when it is rented the whole year.
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March 31, 2023
7:11 AM