RENTAL PROPERTY

[Paul-G-328]

CAN REAL ESTATE TAXES BE DEDUCTED ON SCHEDULE E FROM RENTAL PROPERTY THAT WAS VACANT ALL YEAR WITH NO RENTAL INCOME?

[Just-Lisa-Now-]

was it available for rent? 

If not, you may need to use Election 166 to carry those costs forward until its available for rent.

[Paul-G-328]

So if it's avail for rental I can put 0 income on sched E and deduct the RE tax from expenses and use it at a rental loss?

[Just-Lisa-Now-]

If it was available for rent, but you just couldnt find a suitable enter, you can still claim your rental expenses, like utilities, insurance, prop taxes, etc..

[BobKamman]

Why was it vacant all year?  When was the last time it was rented?  Will it ever be rented again?

Some questions beg for three more to be asked.