Taxes And Utility Bills

While a house is vacant or being rehabbed can the utility bills be deducted from your taxes?

thanks
Nick

Comments(3)

  • InActive_Account22nd February, 2005

    My understanding is that the answer is, "Yes" if the property was purchased for investment or used as a rental during the tax year. May be more information at irs"dot"gov

  • InActive_Account24th February, 2005

    Absolutly!! As long is it is for investment purposes you can deduct. Consult a CPA or the IRS web page to ensure you are itemizing correctly.

  • j_owley27th February, 2005

    i believe until the point of getting a tenant, the costs may go towards the basis of the property and be deducted in the long run.

    I could be wrong

    John

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