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I sold a rental property which has always been a rental but during the period in which the property was on the market, it wasn't rented out. How should the mortgage interest and expenses be reported during the period the property wasn't rented out?


ANSWER


Expert Todd Alexander's Answer:

 The property should continue to be classified as a rental.  Having tenants is not a requirement, but rather intent and past usages are indications of the property's tax status.

Todd Alexander, CPA

California

20 yrs experience

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