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New Member
posted Apr 12, 2025 2:59:27 PM

If you didn't have any rental income on a property, are expenses on that property still considered losses, and therefore deductible?

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1 Replies
Expert Alumni
Apr 12, 2025 3:05:27 PM

It depends. If the property was available for rent, even in a temporary period where repairs were taking place, then you can enter your expenses. If you did not market or the property was not available for rent, or you did not have a profit motive then the expenses cannot be used. The facts and circumstances for your rental should be considered when making your decision.

 

Not for Profit Rental:

If you do not rent your property to make a profit, you can deduct your rental expenses only up to the amount of your rental income. You cannot deduct a loss or carry forward to the next year any rental expenses that are more than your rental income for the year