If your expenses outstrip the income, does anything need to be reported? Yes. Among other things, the loss is deductible at some point.If there is no net income, why depreciate? When you sell you're subject to a recapture of depreciation allowed or allowable during the rental period. May as well get the tax benefit of it since you're going to bear the tax consequence of it whether you claim it or not.PhilRule Your Retirement Home Fool
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