What Are Rental Operating Expenses Deductions?
Operating expenses are the daily and continuous costs incurred by a property owner to operate a rental property.
Usually, operating expenses include:
Mortgage interest
Utilities
Salaries
Supplies
Travel expenses
Car expenses
Repairs and maintenance
These expenses (unlike start-up expenses) are currently deductible—that is, you can deduct them all in the same year when you pay them.
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- How Do You Deduct Property Tax Payments?
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- What Are Start-Up Expenses for Deduction Purposes?
- What Are Specific Examples of Start-Up Expenses Below $5,000?
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