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Investors & landlords
"Can I depreciate and claim losses on the house?"
Not unless your sister uses the home as her main home and $350 per month is considered to be a fair rental price.
See https://www.irs.gov/taxtopics/tc415
Otherwise, each day you rent to her at below fair rental value is considered a day of personal use.
January 15, 2020
8:19 PM