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ask-redweek-timeshare-owner-taxes-2022 (by Herbert S.):
Rental income and expenses are reported on Form 1040, Schedule E. The rental expenses are not itemized deductions. All expenses related to the rental are deducable. Expenses include maintenance fees, extra cleaning fees, advertising, and depreciation. If you go to the property to supervise or otherwise facilitate the rental, those expenses are deductable if the principal purpose is for the rental. Depreciation can be taken on the building and contents, but not the value of the land. Consult with a CPA to determine your specific circumstances. There may be limitations on deducting losses. Undeductable losses are "suspended", and can be deducted against future years income.