Question

Our condo is considered "not for profit" because it was not rented last year. Where do we claim the associated expenses?

Forum|Forum|5 years ago
May 15, 2021
1 reply
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We had other family situations (cancer) which prevented us from renovating and selling last year, so the unit sat empty all year while we paid the 2nd mortgage and HOA fees, as well as electricity.

TurboTax Premier Online

ColeenD3

It depends if you had it available to rent and actively tried to rent it. If so, enter your expenses on Schedule E as you normally do. For any time period that this was not the case, you can't deduct any rental expenses.