What do i do with expenses for 2018 on a rental property that has been rented for many years but was idle this year due to major renovations and personal illness?
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What do i do with expenses for 2018 on a rental property that has been rented for many years but was idle this year due to major renovations and personal illness?
posted
June 4, 20198:30 PM
last updated
June 04, 20198:30 PM
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What do i do with expenses for 2018 on a rental property that has been rented for many years but was idle this year due to major renovations and personal illness?
If the property was not available for rental use then the expenses incurred during that time period are not deductible as an expense. In order to deduct the expenses, the property needs to be rented or you are actively looking for tenants.