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Returning Member
posted Mar 7, 2021 8:50:23 AM

Can I claim loss of income for rental property that I did not rent in 2019 but that I sold in 2020?

Hi everyone -  

 

I sold a second home (it was a condo) in 2020.  My tenant moved out end of 2018 and I did not rent it out for all of 2019 or 2020 until it was sold in April 2020.   So therefore no rental income for 16 months while I still paid the mortgage.  

 

What do I claim on my taxes for this?   The rental was not used for business purposes by me but the tenant never paid real estate taxes, insurance or monthly maintenance charges (I paid for that).   I guess I can't claim any passive activity loss?    But are there other losses or deductions that I can take?

 

Thanks,

Roland

 

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1 Replies
Expert Alumni
Mar 7, 2021 9:18:26 AM

It depends if you were actively trying to rent it out or not.

 

From IRS Pub 527: 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.