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You do have to have some income to offset - the IRS might let you take a loss on paper for a year or two, but they tend to look at small businesses that never s
by thrower123 7y ago
You do have to have some income to offset - the IRS might let you take a loss on paper for a year or two, but they tend to look at small businesses that never show profits but keep going year after year...
- rayiner 7y agoYou have to have some income to offset, but you also need actual costs (money going out the door). Not renting to someone at $5,000 per month isn’t an expense, it’s forgone revenue.
- senordevnyc 7y agoThe only typical exception to this is depreciation, but it applies whether the space is vacant or occupied, and is thus irrelevant here.
- thrower123 7y agoThere is always heat, electricity, water, maintenance, advertising, insurance, etc, etc.