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I manage my own rental property. Can I deduct management expenses as the property manager other than mileage for my vehicle?
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June 4, 2019
2:02 PM
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Investors & landlords
It depends on what you mean by "management expenses". You can only deduct your actual out-of-pocket costs on the Schedule E. You cannot deduct the value of your time. (If you did, it would actually create a worse tax situation, because you would then have to report it as self-employment income and pay self-employment taxes.)
June 4, 2019
2:02 PM