[quote=paramount]I’m no tax expert either, and one question I had is can I write off my principal mortgage payment (on rental property) as a loss when the property is both advertised as available and vacant.
My understanding is that the answer is no you can’t write off the principal amount, but you can write off the interest under those circumstances.[/quote]
Mortgage interest is an allowable rental property expense when the property is occupied or available and advertised for occupancy.
