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Investors & landlords
@Carl wrote:
Once your rental expenses get your taxable rental income to zero (..and they will) that's it.
Every day an owner rents to a family member at below fair rental value is considered a day of personal use.
As a result, none of the traditional rental expenses are allowed (Section 280A); mortgage interest, property taxes, and casualty losses (if any) are reported on Schedule A.
‎December 9, 2020
6:10 AM