No. These are considered personal expenses and are not deductible. Since you are renting to a relative at below FMV, your other expenses like insurance and maintenance are treated just like they are for the house you live in. You can deduct the Property taxes and mortgage interest on Schedule A as personal expenses if you itemize you return. Otherwise, the expenses are not deductible. If you make any improvements to the home you can add the cost of the improvements to your cost basis for if you sell the house. This will help to lower your profit on the sale of the home.
Itemized expenses include things like mortgage interest, charitable contributions, state and local taxes up to $40,000, and medical expenses in excess of 7.5% of your AGI.
Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your expenses.
The 2025 Standard Deductions are as follows:
- Married Filing Joint (MFJ) $31,500
- Married Filing Separate (MFS) $15,750
- Head of Household (HOH) $23,625
- Single $15,750
Blind or over 65 and MFJ or MFS add $1,600
Single or HOH if blind or over 65 add $2.000
Standard Deduction vs. Itemized Deductions: Which Is Better?
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