Coleen3
Intuit Alumni

Investors & landlords

It must be ready and available for rent.

From IRS Pub 527Vacant 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.