Writing off Utilities

[Anthony Martin]

Good day BPers,

I've currently got a property that's been vacant for much longer than expected.  I maintain utilities on this property and I'm curious if this is an expense, along with my PM fees, that I can write off for this tax year?  I try to keep good records of all my expenses, but don't have an in depth knowledge of what can and cannot be written off.  Any guidance would be greatly appreciated. Thanks in advance!

Anthony

[Ned Carey]

I am not an accountant or CPA but my understanding is, if it is available for rent then those items are deductible. If you have yet to rent the property for the first time, those costs should go into the basis of the property. If it has been rented but you took it off the market for some reason, I don't know and hopefully an account like @Brandon Hall will chime in here