Can I claim the expenses of my rental with no income from the rental due to repairs

[boodrowp]

Can i deduct rental expenses if the house has not been rented the past year?

[ChelsiE2 · Accepted solution]

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."

From: IRS Publication 527

[maskedloneranger2]

Why the hell does Turbo Tax ask if the rental property was rented and, if not, deletes the entire data for that rental property. Don't you people know that while the property was being refurbished, even if it takes a year with no rental income because the tenants trashed the property, you can still deduct expenses, depreciation, etc. I had to go back twice and reenter rental property data and ignore the check box that asks the question did you rent the property.

Fix your **bleep** program.

[lestathc]

Till now, TurboTax has not fixed the issue

[xocy]

Also. when you sell a rental property, I cannot find where TT carries the property info forward to form 4797. Does anyone know a solution for this?

[JamesG1]

How much are you able to see of the 1040, 4797 and other tax forms?  You can review the 1040 in TurboTax Online by following these directions. 

• Down the left side of the screen, click on Tax Tools.
• Click on Tools.
• Under Other helpful links, click on View Tax Summary.
• Down the left side of the screen, click on State Tax Summary to see the actual tax return that you prepared.
• Down the left side of the screen, click on Preview My 1040 to see the actual tax return that you prepared.
• Down the left side of the screen, click Back to return. 

You can print or view your full tax return prior to filing after you have paid for the software.