Property purchased but not rented in 2016

[Sabrina Savinski]

I bought my first property in November of 2016 but did not have any income in 2016. Can I still claim my expenses? Trying to use H&R Block software but it will not let me enter 0 days rented in the interface so I currently have entered 58 which is the number of days of ownership. 

[Edmund Ricker]

Hi @Sabrina Savinski,

The IRS lets you deduct ordinary and necessary expenses required to manage, conserve, or maintain property that you rent to others.  You should be able to deduct your expenses as long as you were trying to rent the property.

Since I am not aware of your personal circumstances I cannot give you specific advice, but I would advise against doing your taxes online and find a qualified professional to help you.  A good tax pro may cost you hundreds, but could save you thousands.  Full disclosure:  I am a tax professional so I am admittedly biased.

Hope this helps.

Ed