Rental Expenses versus Passive Activity Losses (PALs)

IRS Resources

Rental Expenses versus Passive Activity Losses (PALs)

I purchased a rental property last year. What closing costs can I deduct? Can you deduct Private Mortgage Insurance (PMI) premiums on rental property? If so, which line item on Schedule E?
Category: Sale or Trade of Business, Depreciation, Rentals
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Page Last Reviewed or Updated: February 07, 2012