you must use the home for a portion of the year. Typically, if you rent out a second home, you need to live there for at least 14 days or more than 10% of the amount of time it's rented out over a year—whichever is longer—to be able to deduct the mortgage interest on it. ...
The actual expense method is, as the name implies, the deduction of actual expenses, including: depreciation, licenses, tires, garage rent, gas, oil, towing, insurance, vehicle registration fees, lease payments and fees, and repairs. The standard mileage allowance yields greater deductions for ...
Owners of partnership interests can also deduct home office expenses on their individual Form 1040,U.S. Individual Income Tax Return. If the expense is of the type the partner is expected to pay without reimbursement, the partner can deduct the expense on Schedule E,Supplemental Income and Loss...