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May 15, 2021
Question

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

  • 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.

1 reply

ColeenD3
May 15, 2021

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.