We deducted the cost of cleaning the home, the carpet, and some other drywall and paint damage to the property. 

Insurance deductible is $5k and I was not planning on filing until I found out about the total loss of the wood floors.  

If you have already completed the exchange and are facing boot, a cost segregation study can help reduce your taxable income by increasing depreciation deductions, but it won't change the fact that boot is recognized.As @Bill B.In a partial exchange the tax is based on the boot received, not prorated across the entire transaction.

If you have a $400k duplex and you live in half and rent halfOr if you have a $200k rental property Your deductible rental expenses will be the same. 

The total commission is usually negotiated as part of the short sale approval process and deducted from the proceeds.

However, if you made the property available for rent in 2024—meaning you actively advertised it, listed it, or had it ready for tenants—you may be able to deduct certain expenses like mortgage interest, property taxes, maintenance, and depreciation for that period.

My understanding is that once I am a partner in the LLC, any money that I put into the property will be tax deductible.

@Jonathan Small For Partner 1 ($72K W-2 income, 2 rentals in an LLC), hiring a CPA is advisable due to the complexities of managing rental property deductions, depreciation schedules, and LLC compliance.

All that said, depending on the size of your RMDs, liquidity needs, and total income, you may consider making deductible contributions to your own IRA ($7k limit, $8k if above 50).

Tax-wise, only the rented portion is deductible, and depreciation recapture applies on sale, increasing taxable gains.