[Krg675]

Like your quote!..I guess deep minds think alike.Or is it just simple minds

[biker1]

Expenses, such as utilities, for empty store fronts are legitimate business expenses. If you are suggesting that rent not collected is also a business expense, I don't believe that is true. Full disclosure: I did the taxes for my wife's business for over 10 years.

Originally Posted by kstew43

empty stores are a tax right-off....

[NYGUY]

Originally Posted by kstew43

empty stores are a tax right-off....

What section of the Code is that from? I will have to check it out!!

[Bogie Shooter]

Originally Posted by kstew43

empty stores are a tax right-off....

Really?

[dewilson58]

Don't fall for the tax troll

[Challenger]

Originally Posted by kstew43

empty stores are a tax right-off....

If you are in a 101 per cent tax bracket!!!

[kstew43]

empty rental property is adjusted in my taxes......

adjusted....right off....same thing.....

[graciegirl]

can you claim empty rental property as a tax write off? - Bing

[kstew43]

If you actively participate in a rental real estate activity, you can deduct up to $25,000 of your rental loss even though it’s passive.

To actively participate means that you own at least 10% of the property, and you make major management decisions, such as approving new tenants, setting rental terms, approving improvements and so forth

I am sure the developer fits into this catagory as well.... I like turbo tax......does all the work for you

[Challenger]

Originally Posted by kstew43

If you actively participate in a rental real estate activity, you can deduct up to $25,000 of your rental loss even though it�s passive.

To actively participate means that you own at least 10% of the property, and you make major management decisions, such as approving new tenants, setting rental terms, approving improvements and so forth

I am sure the developer fits into this catagory as well.... I like turbo tax......does all the work for you

To intimate that the property would intentionally be held off the market would not work in a net sense unless the tax savings was in excess of the rent attainable.

[dewilson58]

Originally Posted by dewilson58

Don't fall for the tax troll

Again.