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Updated over 7 years ago on . Most recent reply
Tax question on extended vanacy
Hi everyone,
I purchased a "turnkey rental" package of two properties from a management company in Feb 2017. However, after almost one year they're still vacant. It did have to go through a construction period, inspection and the past few months search for tenants. But the fact is since my purchase they haven't been producing any income. In my K1 do I claim a loss for the year or since the search for tenants began? I'm hoping I can claim some of these in losses when I do my taxes soon. Both of the properties are on separate LLC.
Thanks