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steven-whatley
New Member

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?
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RichardK
New Member

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.

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RichardK
New Member

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.

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