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MattieZ65
Returning Member

New Rental Property

I moved out of my condo and into a home on May 1st, but thanks to travel and renovations, I did not start renting out my condo until December 21st when my new renters moved in early on a year-long lease (starting Jan.1st.)  So my condo was my primary residence from Jan. 1st to May 1st and then it was empty while I did renovations/traveled until December 21st when my renters moved in. Does this mean I cannot deduct anything this year from this property as a rental since it's under the 14-day threshold?  I spent about $4000 on construction which I believe would be depreciable and another $1000 on painting, cosmetic upgrades, etc.  I also paid for insurance, condo fees, and electricity on the condo from May to Dec. 21st.  Thanks for your answers!

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1 Reply

New Rental Property

that's what section 280A says....used by the taxpayer as a residence but rented less than 15 days means no income included and no deductions allowed.

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