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Tax Planning/Costs of keeping house on the market for sale.


I have a house on the market for sale.  It has been on the market for over a year, and won't get sold this year.  I have been paying various expenses and maintenance fees (HOA, utilities, A/C maintain, and other).  My question is, are these costs deductible for purposes of my 2015 Federal Income Tax, or must I wait for the house to sell to claim those expenses?  The house has not been rented.

If you claim the place as a rental you can deduct your expenses for 2015. When the place sells you can deduct the cost of getting it ready for sale from the sales price. I believe the time window for the deductions in preparation for the sale is 6 months. Best of luck. RS

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Richard S


My expertise is in collecting past due taxes and tax returns. While at the IRS I worked on wage and bank levies, liens, Offer in Compromise, late filing and payment agreements every day. I spoke with over 20,000 people concerning their issues while I worked there (just retired).


Ten years working for the the IRS in Collections and tax return review. Worked with over 20,000 people on their IRS issues. Explained their options and usually worked out a solution while they were on the phone.

Masters Degree from Iowa State in Ames.

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