Which costs can I deduct as income-related expenses?
If you rent out a property, you can deduct all expenses related to the property as income-related expenses.
These include, among others:
- Property tax
- Loan interest
- Depreciation
- Insurance premiums
- Costs for electricity, water and heating, sewage, waste disposal, etc.
- Expenses for caretakers and property management
- Cosmetic repairs
- Costs for furniture in furnished rentals
- Travel expenses to the property
You can also declare service charges billed to the tenant as income-related expenses if they are included as income in the tax return.
