(2023) 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 settled with the tenant as income-related expenses if they are included as income in the tax return.