In 2006 I bought a house in Puerto Rico(PR) for rent and this house has mortgage. I moved to Maryland in 2011 from PR. I never reported depreciation from 2006 to now.
1- Can I report depreciation?
2- Im trying to start this year because someone mentioned me. But for what I see I will always have loss and no profit if I report depreciation.
Example; rent income - mortgage int - depreciation = negative(loss). Does this ok?
