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samrdean
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Can I still deduct rent property expenses such as utilities and HOA fees even though the house was unrentable because it flooded and is still in process of restoration?

Storm dropped 14 inches of rain over a year ago.
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1 Reply

Can I still deduct rent property expenses such as utilities and HOA fees even though the house was unrentable because it flooded and is still in process of restoration?

Yes ... if you are restoring the property to put it back in service in the foreseeable future  then you can continue to deduct the holding costs on the Sch E.  

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