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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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rental burn total loss how do i handle it on my tax return

Customer Question

rental house burn total loss in the process of doing repair to it when it burn.bought it for 20,000 put 20,000 in repairs.own it for 1 year no loan on property
Submitted: 8 years ago.
Category: Tax
Expert:  Marvin,EA replied 8 years ago.

Hello and thank you for using Just Answer. Do you own more than one rental home? Have you filed a Sch. E with the IRS for any deductions for the home that was burn down in 2007?