Claiming depreciation on idle property
Hello all. This has been a very busy year and I let one of my rental houses sit without tenants for all of 2014 till now. We have been working on it to get it rent ready, but it is not quite done. It was rented for half of 2013 but he tenants did damage I had to fix, and while we were at it we made improvements. Yes, I know that is way TOO slow.
Will I still be able to claim depreciation on it for 2014? Will I be penalized in any way for this? Thank you in advance for all information on this important issue.