Vacant rental
property. If you hold property for
rental purposes, you may be able to deduct your ordinary and necessary expenses
(including depreciation) for managing, conserving, or maintaining the property
while the property is vacant. However, you cannot deduct any loss of rental
income for the period the property is vacant.
Vacant
while listed for sale. If you sell
property you held for rental purposes, you can deduct the ordinary and
necessary expenses for managing, conserving, or maintaining the property until
it is sold. If the property is not held out and available for rent while listed
for sale, the expenses are not deductible rental expenses.
