I've rental property & won't be able to take a lost in '17 due to $150k limit. Property was vacant for 3mos. Could I take a deduct Mort interest and Prop taxes on Sch A.

[mendez57]

I have a rental property and won't be able to deduct the lost due to the $150k limit. The property was vacant for 3 mos during the year. Could I move the mortgage interest and property taxes from the Exhibit E to Schedule A for 2017. All other expenses for the property will stay on Exhibit E.

[mendez57]

A followup question: We took the house off the rental market for 3 mos during the 2017 yr. Would it be possible to take the mortgage interest and Property tax for those 3 mos on exhibit 'A'.

[Coleen3 · Accepted solution]

No, you can't deduct the expenses for a business property as if it were your own personal residence.Your loss will carry forward until such time you can take advantage of it. At the worst, you can use it at the time of sale.

[mendez57]

A followup question: We took the house off the rental market for 3 mos during the 2017 yr. Would it be possible to take the mortgage interest and Property tax for those 3 mos on exhibit 'A'.

[Coleen3]

No. It is not a personal home.