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Can I claim loss from rental property?

This property was purchased to provide shelter to a family member in need. I'm getting no rent and the monthly fees and taxes are substantial.

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2 Replies

Can I claim loss from rental property?

A Loss from the property as a rental, NO.  You are not renting the property.  
It can be classified as a second home and you can deduct as an itemized deduction on Schedule A for the real estate taxes paid, the mortgage interest paid and any mortgage insurance paid in 2017.
Carl
Level 15

Can I claim loss from rental property?

Based on the information provided by you, you don't own rental property and therefore have no need or requirement to file a SCH E. You do own a 2nd home however, and the only things you can deduct for that are property taxes and mortgage insurance. That's it.

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