- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Grey area - you say the house was "put up for sale and/or rent (which ever came first)". Was the Primary intent to rent or to sell it? Matter of judgment - if primary intent was sale, then technically your conclusion is correct - "cannot deduct any of the expenses I normally deduct while it's rented".
You could also take the position there was no Primary intent either way, and as such, since it was available for rent, I would deduct all of the expenses for the whole year as being attributable to rental activity.
I hope this helps you make a decision.
May 31, 2019
4:45 PM