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Am I the only person who actually read gogolfers question all the way through? Early on he states that he did not make the property available to be rented during the year 2000. So his expenses are part of his investment in the property, to be added to his basis. He can begin deducting those expenses, in the form of depreciation in 2001 when the property is rented or avaiable to rent. He clearly qualifies as an active participant and can therefore deduct losses up to $25,000 (unless his income exceeds $100,000, see prior post).

But "gogo" you had better not try to do this solely on the bais of the free (sometimes worth every penny) advice you receive here. Do some research and hire a qualified professional. Spend a little time around here and you will see that "professional" does not necessarily equal "qualified".
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