The rental loss is going to be generated by entering your other rental expenses, including depreciation. Rental property is considered a depreciable asset, as are major improvements such as new roofs, landscaping, refrigerators, water heaters, furniture, and so forth. This is often your largest rental deduction. @abv718
What kinds of rental property expenses can I deduct?
What is rental depreciation and how does it differ from an expense?
Rental Expenses
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