Why am I not able to deduct all expenses of my rental property?

[BlaBla22]

Hi,

I did a 1031 exchange of my rental property. The new property, I bought, couldn't be rented in 2024 even though it was in the market. So, there was no income. However, I paid expenses like HOA and Insurance etc. 

I see that all of my expenses are not deductible.  What should I do? Can I show passive loss from 2024 in 2025?

Appreciate your suggestions in this regard.

Thanks

[RobertB4444]

Make certain that when you enter the information about the rental property into TurboTax that you enter that the property was 'available to rent' every day that it was and was personal use zero days.  Being available to rent should allow you to deduct any expenses even if you didn't have a tenant.

@BlaBla22 

[BlaBla22]

Thank you @RobertB4444 . Appreciate the quick response. 

I did enter the number of days available for rent as well as actual number of days rented. Still, I do not see all of my expenses reflected in the adjustments. 

[RobertB4444]

Have you marked that you actively participated in the rental property?  If you are not an active participant then the losses are not deductible.

There are also income limitations.  If your income is over $100,000 then the loss is limited.  If your income is over $150,000 then the loss is disallowed.

@BlaBla22