Question

My rental property was being renovated for a month then it took 2 months before it got rented. Do I have to say that my property wasn’t rented for the full year?

Forum|Forum|5 years ago
February 1, 2021
1 reply
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The property was used as a rental property all year, but due to the renovation and getting new tenants it wasn’t occupied everyday.

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ColeenD3

Yes, you would say it was not rented all year, since it wasn't.

Per IRS Publication 527, Residential Rental Property

Vacant rental property: If you hold property for rental purposes, you may be able to deduct your ordinary and necessary expenses (including depreciation) for managing, conserving, or maintaining the property while the property is vacant. However, you cannot deduct any loss of rental income for the period the property is vacant.