Originally Posted by Swervin
#1;Personal Use Days=17
Use by Relatives (no rent collected)=7
Rental Days (rent collected)=146
#2;Which of the following expenses can we deduct on for 1040NR Schedule E?
Cleaning and maintenance
#1;it is rental/personal use pty as it was rented for 15 days or more and was used for personal purposes for more than 14 days or 10% of the days rented, whichever is greater. I mean 17+7>15, 10% of 146 days;allocable rental exp are allowed only to the extent of rental income. allocable rental exp r deducted in three steps; 1. Int and taxes 2.utilitiues and reapir and maint.3)depre exp.your personal % is 15%;24/170, then,rental % is 85% so if ur rental income is $10K, then $10,000-75%*(amount of int and taxes exp)=balance -75%*(amount of util and maint)=balance-75%*(amount of depre)=balance.You , as 10540 NR filer, CANNOT deduct mortgage interest on Form 1040NR.
For accuracy , you may post gross rent amount or amounts of expesenses if you want.
Which of the following expenses can we deduct on for 1040NR Schedule E?
#2;Cleaning and maintenance===2nd category
Management fees==========2nd category
Mortgage interest=========1st category
Depreciation expense====3rd category
Please read above.