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jlayzell
New Member

Do I need to stop depreciation on my currently vacant rental until I find another renter?

 
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Coleen3
Intuit Alumni

Do I need to stop depreciation on my currently vacant rental until I find another renter?

No. You can continue to deduct expenses if you are actively looking for tenants.

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.

 IRS Pub 527

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1 Reply
Coleen3
Intuit Alumni

Do I need to stop depreciation on my currently vacant rental until I find another renter?

No. You can continue to deduct expenses if you are actively looking for tenants.

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.

 IRS Pub 527

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