What are common deductions in property management?
An example of an AI chatbot conversation about property management deductions.
What are common deductions I can claim in property management?
Common deductions include maintenance costs, property management fees, and depreciation.
Can I deduct repairs made to the property?
Yes, repairs that keep the property in good condition are typically deductible.
What about utilities? Can I deduct those expenses?
Yes, if you pay for utilities as part of managing the property, those can be deducted too.
Are there any limits on how much I can deduct?
There are no specific limits, but deductions must be reasonable and necessary for property management.
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