I put my old house for rent when I bought a new house last year. After one year rental period end, all I got was loss. Since the tenent move out in September this year, I couldn\'t find good quality tenent move in. I am thinking to sell the house next year. Since I can\'t take rental loss, AGI>150,000. I wonder:
1. Can I take the loss if I sold my house next year as rental property? Is there any holding time limit to rental property. If there is, for how long? I will sell by loss, no gain definitely. I know if it was a personal property you can\'t claim sell loss at all.
2. Can I deduced the mortage interest and property tax in my schdule A for the last 4 months this year if the house was not rented out.
3. Can I deduct the mortage interest and property tax in Schdule A if the house was not sold next year?
Thank you in advance.
Can anybody answer my house tax questions?
黄花片片 (2009-10-20 09:26:26) 评论 (1)I put my old house for rent when I bought a new house last year. After one year rental period end, all I got was loss. Since the tenent move out in September this year, I couldn\'t find good quality tenent move in. I am thinking to sell the house next year. Since I can\'t take rental loss, AGI>150,000. I wonder:
1. Can I take the loss if I sold my house next year as rental property? Is there any holding time limit to rental property. If there is, for how long? I will sell by loss, no gain definitely. I know if it was a personal property you can\'t claim sell loss at all.
2. Can I deduced the mortage interest and property tax in my schdule A for the last 4 months this year if the house was not rented out.
3. Can I deduct the mortage interest and property tax in Schdule A if the house was not sold next year?
Thank you in advance.