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Glass183
New Member

Can i deduct for loss of rental income due to vacancy (for 2017 taxes)?

I rent out a condo. Last year (2017) there was a short duration in which the property was vacant. Can i deduct that loss of rental income for that time period? There is conflicting information out there for 2017. Publication 527 says I cannot, but others are saying that i may be able to deduct under certain situations, but I can't find an IRS source document that explicitly states the situations that will permit the deduction. Anyone have the official word?

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LisaBr
New Member

Can i deduct for loss of rental income due to vacancy (for 2017 taxes)?

No, you cannot deduct the loss of income for your condominium.  However, if you incurred expenses while the unit was vacant that was required in order to maintain the unit, you could include them in expenses. ?

"Vacant rental property. If you hold property for rental purposes, you may be able to deduct your ordinary and necessary expenses (including depreciation) for managing, conserving, or maintaining the property while the property is vacant. However, you can’t deduct any loss of rental income for the period the property is vacant." [From:  https://www.irs.gov/pub/irs-pdf/p527.pdf]

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