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Level 5
June 20, 2020
Question

If a rental property was not used in 2019, can you suspend the depreciation from being carried over onto the return for that year?

  • June 20, 2020
  • 4 replies
  • 27 views
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4 replies

Just-Lisa-Now-
Intuit Community Champion
June 20, 2020

Was it still available for rent but was being worked on or couldn't find a suitable tenant?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
chiodoincAuthor
Level 5
June 23, 2020

Yes, both.  They spent half the year working on repairs and fixing it up and then they had a hard time finding a qualified tenant.

Just-Lisa-Now-
Intuit Community Champion
June 23, 2020

Sounds like its still a rental property, you wouldn't need to suspend depreciation for this.  I'm sure you have property taxes, utilities and all the repairs you incurred as well as advertising and whatnot for attempting to find a tenant....these are all still valid rental expenses even though you werent able to collect any rents for the year.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪