Generally, you can deduct any reasonable expenses you incurred to earn your rental income.
Following is the list of expenses that are deductible.- Advertising expenses
- Insurance expenses
- Interest expenses
- Maintenance and repair expenses
- Management and administration fees
- Motor vehicle expenses
- Office expenses
- Legal, accounting, and other professional fees
- Property taxes paid
- Salaries, wages, and benefits paid
- Travel expenses
- Utilities expenses
- Other expenses such as lease cancellation payments or condominium fees.
