What is the name of your state? Delaware
We're thinking of exchanging one rental condo for a another where the rental market may turn out to be soft. If we try unsuccessfully to get a tenant for the new one, and have no personal use at all so that it's clearly an investment property, would the IRS have a problem with it being vacant for the year? We'd still want to claim the usual deductions, of course.
We're thinking of exchanging one rental condo for a another where the rental market may turn out to be soft. If we try unsuccessfully to get a tenant for the new one, and have no personal use at all so that it's clearly an investment property, would the IRS have a problem with it being vacant for the year? We'd still want to claim the usual deductions, of course.