Utilities for the Vacant HouseNot deductible.

Provide a detailed accounting of deductions, along with the invoices, to show you’re acting in good faith.

.: Stessa isn't good for keeping track of tax deduction items.Stessa was designed to just look at P&L.

ChatGPT tells me that the cash out proceeds even if only reimbursing myself is non deductible because the proceeds are not reinvested in property

Curious of what everyone is electing their SFR deductibles to be?

Deduct mortgage interest, property taxes, travel, and operational expenses.

My questions are;Do I have to take expenses as a deduction in a year in which they occurred even if I do not get income until the following year  I have other rental property, but my taxable income on them after expenses is only gonna be about $5000 So is there anyway to roll over expenses to the next year since I cannot deduct the remaining 15,000 and expenses against my W-2 income?

I can deduct the interest, but it gets added it B and C vs A?

(I'm guessing) my deduction would go further next year.

Keep track of 3 buckets.1) Owner occupied portion - potential deductions for schedule A2) Tenant occupied portion - potential deductions for schedule E3) Jointly occupied portion - likely prorated for both schedules.There are nuances to this, so I recommend looking for a tax pro who can coach you on this.