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posted Jun 3, 2019 1:37:37 PM

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

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1 Best answer
Intuit Alumni
Jun 3, 2019 1:37:38 PM

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

1 Replies
Intuit Alumni
Jun 3, 2019 1:37:38 PM

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