Tuesday, March 24, 2020

I have rented out a condo for only two months, November and December. Can I write off the whole calendar year?

Inge Mclaurine: Depends, you have to pro-rate it to the amount of time it was trying to be rented out. If it was available for rent in January and it took until November to get it rented then use the whole year. Also pro-rate all the other cost associated with the property.Note that if it is rented to a relative you cannot show a lose on it.

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