Rental property not rented / Owner financed property repossessed.
We are joint owner of a house that we previously owner finance and repossessed in 2015. It has been vacant and needs repair. Can we deduct or depreciate the property and get any type of deductions?
Rental property not rented / Owner financed property repossessed.
If the property was available for rental, you could deduct depreciation
and other cost of trying to rent the property, otherwise if you paid real estate
taxes, you can claim them as an itemized deduction.
Rental property not rented / Owner financed property repossessed.
If the property was available for rental, you could deduct depreciation
and other cost of trying to rent the property, otherwise if you paid real estate
taxes, you can claim them as an itemized deduction.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.