itonewbie
Level 15
11-08-2020
07:03 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The question is whether and when the rental property was ready and available?
If it was and your client is able to establish that genuine good-faith efforts were made but there was just no taker, your client should file a Sch E and claim depreciation.
Having records from your client's agent as to the efforts made and market for comparable properties in the vicinity could be helpful.
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar