We owned a house for 9 years and last August we wanted to move to a different house and we put the existing one on rent back in Aug last year. We hired an agent who helped us get the renters Towards the end of Aug, we had a renter and we signed the lease starting Sept 1'st last year.
For some personal reasons, we had had to break the lease and ended up paying $5000 to renters to break the lease and $2500 to Real estate agency who brought the renters.
Lease was broken on 30'th of August before renters moved in. Practically we did not have any income but only loss of $7500. Would I be able to report this loss and how?
Thanks a lot.