Rental Property Tax
I was wondering, if my property was vacant for some months of the year, can I deduct the expenses related to the rental property, such as property tax and maintenance, for the entire year or only for the duration that it was rented?
Answers
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Hale,
That is a great question!
It depends. If these were pre-rental expenses, it would depend on whether you were attempting to rent the home. If pre-rental expenses and you were not attempting to rent the home while vacant, those expenses would generally not be deductible on Schedule E.
For more information, see page 5 of Publication 527.
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Hi Hale,
Thanks for the question.
The answer is yes, if you hold property for rental purposes, you can deduct your ordinary and necessary expenses (including depreciation) for managing, conserving, or maintaining the property while the property is vacant.
