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madmattstormbringer
New Member

Rental Expenses allowed

If you have mortgage payments for the property, wouldn’t that be an expense you can write off?  If the answer is no, what is the explanation?  Thanks!

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‎February 7, 2020 8:14 AM
last updated ‎February 07, 2020 8:14 AM
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DoninGA
Level 15
Level 15

Rental Expenses allowed

Mortgage interest payments are an expense you can enter on a Schedule E for a rental property.  

You should also be depreciating the rental property as an Asset with a recovery period of 27.5 years.  This will cover any mortgage payments which are not entered as an expense.

‎February 7, 2020 8:20 AM
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