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dawna1266
New Member

I tried to sell my house because I bought another one. My previous home sat for months, unsold. I am now renting it. How do I account for the months it sat empty?

 
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Hal_Al
Level 15

I tried to sell my house because I bought another one. My previous home sat for months, unsold. I am now renting it. How do I account for the months it sat empty?

You don't account for it anywhere on your tax forms (or in Turbotax) It was simply a 2nd home and nothing (not utilities, insurance or maintenance) is deductible except mortgage interest and real estate taxes. Those are deductible, on schedule A, as itemized deductions. After entering your primary mortgage interest ad RE taxes, you will be asked if you have any additional to enter. 

If you made any improvements or had fix-up costs to get it ready to rent, those are added to your cost basis and depreciated.

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Hal_Al
Level 15

I tried to sell my house because I bought another one. My previous home sat for months, unsold. I am now renting it. How do I account for the months it sat empty?

You don't account for it anywhere on your tax forms (or in Turbotax) It was simply a 2nd home and nothing (not utilities, insurance or maintenance) is deductible except mortgage interest and real estate taxes. Those are deductible, on schedule A, as itemized deductions. After entering your primary mortgage interest ad RE taxes, you will be asked if you have any additional to enter. 

If you made any improvements or had fix-up costs to get it ready to rent, those are added to your cost basis and depreciated.

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