chiodoinc
Level 2
‎06-20-2020
10:40 AM
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3 Replies 3
Level 15
‎06-20-2020
11:55 AM
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Was it still available for rent but was being worked on or couldn't find a suitable tenant?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
chiodoinc
Level 2
‎06-23-2020
12:42 PM
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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.
Level 15
‎06-23-2020
12:57 PM
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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♥¸¸.•*¨*•♫♪