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ozdaryal
New Member

I moved out of my home on 5/26/18, listed for sale and for rent on 6/1/18. It went under contract on Oct30 and sale closed on 1/31. Can I deduct rental property expenses?

I moved out of my single-family home on 5/26/18 and listed it for sale and for rent whichever comes first on 6/1/18. On Oct 30, we accepted a purchase offer and it went under contract and the sale closed on January 30, 2019. Can I deduct rental property expenses for the expenses I incurred between Jun 1 and Oct 30? I have other rental properties for whatever it's worth. 

I had to repair some things for the sale (per the sale contract). Are these repair expenses deductible?

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Coleen3
Intuit Alumni

I moved out of my home on 5/26/18, listed for sale and for rent on 6/1/18. It went under contract on Oct30 and sale closed on 1/31. Can I deduct rental property expenses?

Yes, you can deduct your expenses.

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.

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1 Reply
Coleen3
Intuit Alumni

I moved out of my home on 5/26/18, listed for sale and for rent on 6/1/18. It went under contract on Oct30 and sale closed on 1/31. Can I deduct rental property expenses?

Yes, you can deduct your expenses.

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.

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