turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Rental

Can I depreciate condo for whole year though rented only 3 months but "for rent" entire year? Condo in another state so travel to condo to fix and improve. Personal use?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

Rental

You can take depreciation deductions if your condo was available for rental use.

 

Did you have any personal use of the property? Days spent on the property for the purpose of repairs and maintenance are not counted as days of personal use.

Rental

I spent a week or so each time but was fixing and improving. My first listing went thru Aug, then while evaluating who to list with I finally listed thru Zillow in Dec. Will that still be considered "trying to rent out entire year"

DianeW777
Employee Tax Expert

Rental

Yes. As long as it was available to rent, and while repairing you were marketing it as well. It would be considered a rental all year if there was no personal use. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Rental


@PRGearup wrote:

I spent a week or so each time but was fixing and improving. My first listing went thru Aug, then while evaluating who to list with I finally listed thru Zillow in Dec. Will that still be considered "trying to rent out entire year"


Were you trying to rent the property for the entire year (beginning January 1st)? 

 

If so, then the property was available for rental use for the entire year.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question