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| Subject: Renting (failing to) and Taxes | Date: 8/5/2004 7:33 AM | |
| Author: tlswms | Number: 72736 of 126011 | |
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We've been attempting, through a property management company, to rent out a home we inherited. We signed an agreement with the property company about 3 months ago and haven't gotten a tenant yet. We're contemplating selling it now instead. If we choose to stop trying to rent it and list it for sale instead, when we file our taxes will we be able to take passive losses for the expenses incurred to date (till what date?)? Assuming so (to some degree anyway) - but wanted the voice of experience to reassure me. Would also like suggestions on any books that cover the ins and outs of taxes and having rental property. Any comments welcome - Tom in Congo |
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