Buying a rental property
Varies
Can You Write Off Buying a Rental Property?
Short answer: The purchase isn't deductible, but the building portion is depreciated and first-year interest, taxes, and insurance are deductible.
Split the price between land and building using the tax assessment.
Records to keep: Keep leases, receipts, a log of repairs vs improvements, mileage to the property, and closing statements.
BW-B23-00642
medium risk
Buying a rental property
Varies
Real Estate / Landlords / Property Managers / Agents
Rent & Facilities
Rental Property Write-Offs
The purchase isn't deductible, but the building portion is depreciated and first-year interest, taxes, and insurance are deductible.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
The purchase isn't deductible, but the building portion is depreciated and first-year interest, taxes, and insurance are deductible. Split the price between land and building using the tax assessment.
Category
- Rental Property Write-Offs
rental property
search demand 2026 b23
rental income
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