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House for Lease and depreciation

I signed a contract with a property management company to lease my condo. The in-service date was 9/1/23 but we have not found a tenant. Can I depreciate my condo without having a tenant?

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1 Reply
evelynm
Employee Tax Expert

House for Lease and depreciation

Yes.   Your expenses are deductible while the property is vacant and held out for rent including depreciating the condo.

 

Here is a link for further details:   https://turbotax.intuit.com/tax-tips/rental-property/real-estate-tax-and-rental-property/L3e09vT71

Have an amazing day. Evelyn M (CPA 20+ years)
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