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Investors & landlords
Yes you can claim a deduction for qualified rental expenses, even though you plan to move in at a later time.
You must report the rental income for the property and you can claim all the ordinary rental expenses (e.g. loan interest, insurance, depreciation, repairs & maintenance, management fees, etc.)
See What kinds of rental property expenses can I deduct? for a more complete list of deductible rental expenses.
See Where do I enter income and expenses from a rental property? for instructions on reporting rental income and expenses.
March 27, 2021
7:25 AM