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JGeig
New Member

Primary converted to rental with no income - can I claim expenses?

I converted a primary residence to a rental property starting December 2023. Leading into that conversion, I had cleaning and repair expenses in order to get the property "rental ready" but it didn't rent until 2024. Am I able to claim any of those expenses on my 2023 return or carry them forward for 2024? Am I able to deduct my December mortgage payment? If yes - how do I record those details?

 

TurboTax seems to require rental income but I'm also reading you can deduct expenses for a vacant rental if you're actively trying to rent it.

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1 Reply
MarilynG1
Expert Alumni

Primary converted to rental with no income - can I claim expenses?

You can deduct rental expenses, if you had the property 'available for rent' at the time they were incurred.

 

Otherwise, you just spent money fixing up your personal home.

 

However, you can add the cost of any improvements to the Cost Basis of the Home when you do set up the Rental.

 

Here's more info on Preparing Rental Property. 

 

 

 

 

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