☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Oct 25, 2023 11:52:23 AM

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?

1 1 263
1 Replies
Employee Tax Expert
Oct 25, 2023 11:56:54 AM

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