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I have a rental house that was under renovation all of 2024 with no income. I did have to pay taxes and insurance. I need to get a deduction. How can I enter those?

I'm at the Turbo Tax screen "Tell us about your situation this year" My choices include "First year rented" - it's not. "Sold or disposed" - not in 2024, probably in 2025. How do I get a deduction for insurance and taxes?
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1 Reply
AnnetteB6
Employee Tax Expert

I have a rental house that was under renovation all of 2024 with no income. I did have to pay taxes and insurance. I need to get a deduction. How can I enter those?

If the property was advertised and available to rent during 2024 while under renovation, then your expenses would be claimed on Schedule E regardless of whether you had income for the year.  

 

But, if the property was taken out of service as a rental during the renovations, you can claim the property tax on Schedule A Itemized Deductions.  The insurance cost is a personal expense if the property was not available for rent, so it would not be deductible.

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