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garmbeall
New Member

My rental property was vacant for all of 2017. Not listed or available for rent. I repaired the home during 2017. What about my expenses? Can I carry forward to 2018?

 
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MichaelDC
New Member

My rental property was vacant for all of 2017. Not listed or available for rent. I repaired the home during 2017. What about my expenses? Can I carry forward to 2018?

It's hard to tell what your question is without knowing more about your situation. If you have additional questions or details regarding this, please feel free to post in the comments for further clarification.

If you've purchased the property and haven't rented it yet, your pre-rental, start-up expenses will be added to the basis (original investment) and, in that manner, carried forward to 2018. No Schedule E rental reporting would be necessary this year in this case.

If you've previously rented the property and have taken a year off in the rental activity to repair and renovate with the intention of renting again, again it's probably best to capitalize those expenses and add a new "improvement" asset to the rental and depreciate it over 27.5 years. Outside of this, you'll enter zero income and expenses for the rental this year.

Here's more info that may be helpful to you:

https://ttlc.intuit.com/replies/5708330

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