Do I declare schedule E on a rental home that was not rented last year?

March 27, 2010 by homeremodeling · 1 Comment
Filed under: Renting & Real Estate 
Home Remodeling
wgarnsey asked:

I have a rental property that I have rented for 15 years prior to 2007. Due to deferred maintenance, I have spent the year remodeling this home. It has been un-occupied the entire year during 2007. Do I omit the Schedule E completely since I did not take in any income?

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