General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago on .
Tax Deductions for Expenses When Selling a Investment House
My tenant moved out my investment property on 3/31/2019. I found many problems need to fix before I can rent it out again.. I did the following things"
1. Fixed water leaking in two bathrooms and ceiling.
2. Replace damaged floor.
3. Repainted whole house.
4. Clean up yard.
Repairing progress was slow because I was busy in selling my primary house and relocation from California to Texas. Finally, I decide to sell it and use 1031 exchange to exchange three replacement investment properties in Houston. This investment property listed for sale on 9/19/2019 and sold on 11/2/2019. My questions are:
1. Does this 1031 relinquished property still been treated as a rental property even the tenant has moved out and vacant for 5+ months before sold?
2. Can I claim all expenses (insurance, depreciation, utilities, taxes, and mortgage interest) occurred after tenant has moved out and before sold?
3. Can I claim painting (inside and outside) expenses as part of my rental expenses?