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March 9, 2024
Question

Still a rental?

  • March 9, 2024
  • 1 reply
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I bought a house to rent to relatives. They stayed in the house for several months while doing repairs and fixing up another house they bought. I did not charge them rent during those months. Is the house still a “rental” during that time? I continued mortgage payments until the house was sold later that year.

    1 reply

    March 9, 2024

    No, if you were not charging Fair Rental Value to the tenants, it is considered as personal use (with no deductible expenses for that time period).