Thanks ChelsiE. It did in fact just sit empty and still is on the market. I am asking because I had a big loss on Schedule E because it was sitting empty for 7 months. However, since the jointly yearly wage is 150k, I can't deduct the loss. If I split the expenses between Schedule E (5 months of the expenses) and Itemized Deduction (7 months of expenses), I have a smaller loss in Schedule E but I can deduct the rest on Itemized Deductions. I wonder if in this case the splitting is applicable. Thanks.
