Can I deduct Rental Property Expenses in my personal return if the property I own is Commercial?
I own a commercial office suite, which I rent.
Are expenses such as Mortgage appeal, Taxes, Insurance, Repairs, deductable in my personal return, as they would be in the case of a Residential Leasing Property?
I can’t find reference to decuting expenses for a COMMERCIAL leasing property in personal income, anywhere in the IRS website.
Yes, as well as declaring the income.
Yes, but you should contact the IRS by phone and verify and check on any needed forms that you might need. Also check with a tax preparer.