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Home > Money & Services > Taxes   »   Loss of rent can you claim it as an expense of the rental

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Old Feb 17, 2008, 12:35 PM
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Cheshire2008
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Loss of rent can you claim it as an expense of the rental
If you own two homes One is your primary the other you rented.
07 was the first year as a rental While trying to find a rentor the house was empty for some time and it has taken 5 months to rent can you claim loss of rent as a cost for those five months?

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Old Mar 3, 2008, 12:50 PM   #2  
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You can start claiming the expenses on the rental house (to include depreciation) the day you started preparing the house to be a rental, even if it is up to a year prior to actually renting the house to a tenant.

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Old Mar 3, 2008, 04:54 PM   #3  
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If you're asking whether "loss of rent" is some sort of expense you can deduct - no. You can only deduct true out-of-pocket expenses and depreciation.

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Cheshire2008 agrees: yes that is what I needed to know
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