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Depreciation for inactive rental house
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TaxStyle
Level 2
03-11-2022
07:42 PM
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Hi everyone,
my client, a partnership, rents out residential houses. In 2021, one of the houses was rent to family relatives. Due to pandemic, my client decide not to charge rents for her relatives for near future (probably 3-5 years).
In this case, are the depreciation for this particular house still deductible for the partnership? Also are the maintenance costs for this house still deductible?
Thanks in advance for help
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3 Comments 3
sjrcpa
Level 15
03-11-2022
08:27 PM
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No the depreciation and maintenance expenses are not deductible, but maybe they are a deemed distribution to the partner whose relatives live there rent free.
How many partners are in the partnership?
How does "my client" fit into the partnership?
The more I know, the more I don't know.
TaxStyle
Level 2
03-13-2022
01:59 PM
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it is just mother and the son.
the partnership owns multiple rental houses, just one of the houses is not rent out for income
