Thank you for your reply.
The property is just recreational property for the family. Not for production of income or in a trade or business. It was held in a trust when the parents were alive. When they passed, it was put into an LLC to hold the title as there are seven adult kids that now own the piece of property.
The only expense would be the property taxes. Does that then become a loss because there is not income?
Thank you again for your help!!
