topic Rental property in Get your taxes done using TurboTax

Rental property

jahovh2 — Wed, 26 Jan 2022 22:13:20 GMT

My son purchased my home in Oct. 2020. He then got married in Dec. 2020 and moved into wife home. I pay the mortgage for my home. He does think he has to show this as a rental home. Can he right off repairs if he doesn’t use as rental?

Re: Rental property

RobertB4444 — Wed, 26 Jan 2022 22:20:12 GMT

In order for a home to be deductible as a rental home it has to be available to rent. Leaving it sitting empty does not qualify it as a rental home, just as a second home. For your second home property taxes and mortgage interest are deductible but nothing else.