Rental Expenses Are Tax Deductible When A Property Is Listed As FOR SALE/LEASE At The Same Time?

If a property was listed as For Sale/Lease at the same time, and it was sold three months later because there was no any good rental prospectives. Can the owner still take tax deductions on his/her rental expenses during that three months, such as application forms, advertising, cleaning, etc.? Is there any IRS publication available for this situation? Thank you for sharing your knowledge!

Comments(1)

  • 64Ford8th September, 2003

    to my knowledge, yes, you can still take those decudtions. However, I would double check with your CPA.

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