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Taking Deduction on a property that was vacant for 6 months due to extensive improvement work for rental preparation
We upgraded from a townhome to a new home single family home in Feb 2023 but moved into single family home in July 2023 due to school year. We were unable to put the townhome on rent for the rest of 2023 since the property needed extensive maintenance work. We were able finally complete the maintenance in Jan 2024 and rented the property in April 2024. Can I deduct the depreciation and maintenance on the townhome for the months we did not live? If yes, How can I do that in Turbotax ?
Thanks much!
Kevin
‎October 12, 2024
6:49 PM