PrettyMindMe
Junior Member
What is the name of your state? California
A rental property was vacant for the whole year for repair works and not available for rental. So there is no rental income in 2004. Can the mortgage interest, insurance, property tax, etc be expensed in 2004? Or do they have to be capitalized and start to be depreciated when the property is available for rental again?
A rental property was vacant for the whole year for repair works and not available for rental. So there is no rental income in 2004. Can the mortgage interest, insurance, property tax, etc be expensed in 2004? Or do they have to be capitalized and start to be depreciated when the property is available for rental again?