@nbadhe2020 you have posted to a thread that is over a year old, and applies to the 2018 tax filing season. You'd be better off starting your own new thread.
Depending on the value of the structure and the percentage of your floor space that is being rented, that may be correct. But I would need more details to work with here, before I can be of any real assistance. How about provide those details in a new thread please?
What is the cost basis of the structure? What percentage of your floor space is classified as rental?
Take note that is is quite common for rental property to operate at a loss every year. When you add up the allowed rental deductions of mortgage interest, insurance, property taxes and add that to the allowed depreciation, changes are those deductions will exceed the rental income, hands down.
Now things can be different when renting out a part of your primary residence. So that's why you need to provide the numeric data.
