Under the vacation home rules, rental property expenses are deducted in a specif

Question

Under the vacation home rules, rental property expenses are deducted in a specific order. W hat is the order? ule A expenses, depreciation, carryover of depreciation, indirect operating expenses, carryover of indirect expenses, direct expenses, indirect operating expenses, carryover of indirect operating expenses, Direct expenses, rental portion of Schedule A expenses, depreciation, indirect operating expenses, and carryover expensers. Rental portion of Sched operating expenses, and direct expenses Rental portion of Schedule A depreciation, and carryover of depreciation. O O Direct expenses, depreciation, rental portion of Schedule A expenses, indirect operating expenses, and carryover expenses.

Explanation / Answer

Answer is Option (2) " Rental Portion of Schedule A Expenses, direct expenses, Indirect Operating Expenses, carryover of indirect operating expenses , depreciation and carryover of depreciation The Specific order for deducting expenses Rental Portion of Schedule A expenses Such are - Qualified home mortgage interest Real-estate taxes, , Casualty losses Direct expenses related to rental , Such as Advertising, Legal fee etc Expenses relating to Operating of rental property depreciation on rental property

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