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Can 2017 expenses be deducted for a home which had been a rental property in 2016? Property taxes? Utilities? Maintenance?

Forum|Forum|7 years ago
June 1, 2019
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We put house for sale in January 2017. Turbotax said because we did not attempt to rent in 2017, it was no longer a business asset, and to remove it as an asset. I get that. We had expenses while waiting to find a buyer - property taxes, insurance, utilities, maintenance - so want to know what can be deducted. It appears we can deduct property taxes inder "Other property".

TurboTax Home & Biz Windows

Best answer by AnnetteB6

If the property was not advertised and available for rent during the time it was listed for sale in 2017, then it was no longer considered to be a rental property.

You would be able to deduct the property taxes as part of Schedule A, itemized deductions. The insurance, utilities, and maintenance would not be deductible since it was no longer a rental property.

A

AnnetteB6Answer

If the property was not advertised and available for rent during the time it was listed for sale in 2017, then it was no longer considered to be a rental property.

You would be able to deduct the property taxes as part of Schedule A, itemized deductions. The insurance, utilities, and maintenance would not be deductible since it was no longer a rental property.

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