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ALL
Lv 5
ALL asked in Business & FinanceRenting & Real Estate · 6 years ago

Where to report expenses for sold rental property.?

We owned rental property for many years until October 2014, when it was sold.

It was occupied a couple months, but the tenant failed to pay any rent in 2014 before she left.

Do we still file Schedule E, showing expenses for 2014, or just lump all expenses into selling expenses when we report the sale on Schedule D.

Also, do we depreciate it for 2014 since there wasn't any rental income?

thanks

1 Answer

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  • Frankie
    Lv 7
    6 years ago

    If you are itemizing deductions, you need to use the Schedule E for expenses. Beyond that, consult a tax accountant.

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