Discussion:Rental not rented
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| Revision as of 18:45, 12 April 2009 Kevinh5 (Talk | contribs) (either capitaliz) ← Previous diff |
Revision as of 04:37, 13 April 2009 Rgtaxservice (Talk | contribs) (Kev, can the uti) Next diff → |
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| {{ForumReplyPost|UserID=Kevinh5|Date=12 April 2009|Text=either capitalize them or treat them as investment expenses on Sch A}} | {{ForumReplyPost|UserID=Kevinh5|Date=12 April 2009|Text=either capitalize them or treat them as investment expenses on Sch A}} | ||
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| + | {{ForumReplyPost|UserID=Rgtaxservice|Date=13 April 2009|Text=Kev, can the utilities be capitalized as well? | ||
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Revision as of 04:37, 13 April 2009
Discussion Forum Index --> Basic Tax Questions --> Rental not rented
Discussion Forum Index --> Tax Questions --> Rental not rented
Rgtaxservice (talk|edits) said: | 12 April 2009 |
| I've never run across this before and would appreciate some guidance...or a point in the right direction.
My client has several rentals. For all of '08, he had one property that wasn't rented. He told me that it will probably be out of commission for a all of '09 as well. He just doesn't have the time or money to get into it and do the renovations. The only expenses incurred for the year and mortage interest, taxes, and utilities. It will not a be a home. Will it get treated as investment property? What do I did with the mortgage interest and taxes? I was thinking carrying charges but this is not unimproved land. Can anything be done with the utilities? I will suspend the depreciation. | |
| 12 April 2009 | |
| either capitalize them or treat them as investment expenses on Sch A | |
Rgtaxservice (talk|edits) said: | 13 April 2009 |
| Kev, can the utilities be capitalized as well? | |
