I purchased a rental property in 2024 and had expenses but no income. what forms do I fill out

[WyAcOnDa81916]

How do I report re3ntal expenses on a new property that does not have income?

[PatriciaV]

If the rental property was available to be rented during the year (whether or not you had tenants), add this activity under Rental Properties and Royalties.

Even though you had no rental income, you can still report expenses to maintain the property and depreciate the rental assets.

If, however, you haven't actually listed the property as available to be rented, any expenses you incurred increase the basis of the property. Mortgage interest and property taxes may be reported as itemized deductions.

Additional Information:

• Where do I enter income and expenses from a rental property?
• What kinds of rental property expenses can I deduct?
• How do I handle capital improvements and depreciation for my rental?