MarilynG1
Expert Alumni

Investors & landlords

You could leave Schedule E in your return, since you have needed it in the past and it's much easier and clearer than having to re-enter/delete rental items.   When you report your income/expenses and rental period of 14 days for 2023, the deductions will be disallowed, but there will be record of them.  The property continues to depreciate, whether you are able to claim the depreciation or not.  

 

Schedule E will show the Property Tax disallowed, but with the personal portion flowing to Schedule A. 

 

You will have Form 4562 (landscape form), Depreciation and Amortization Report that tracks Prior Depreciation and Current Depreciation for you for the property and any related assets.

 

Here's more info on Renting Vacation Property.

 

@gl100 

 

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