What deductions can I claim for my short-term rental property?
An example of an AI chatbot conversation about deductions for short-term rental properties.
What deductions can I claim for my short-term rental property?
You can claim various deductions such as mortgage interest, property taxes, repairs, and utilities.
Are there any specific rules I should be aware of?
Yes, you need to ensure that the property is rented out for at least 14 days a year to qualify for certain deductions.
Can I deduct my cleaning fees?
Absolutely! Cleaning fees incurred for your short-term rental can be deducted as a business expense.
What about depreciation? How does that work?
Depreciation allows you to deduct the cost of the property over time, typically 27.5 years for residential rentals.
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