When is a business really closed?

[cathe]

I have a tax client who had a greenhouse and closed it for business several years ago. He still has the land and the deteriorating greenhouses and wants to deduct the mortgage interest. So.... when is a business closed? I know when he does sell the property it will have to show the depreciation we claimed while it was a functional business, but what happens when the doors close?

Cathe

[TAXNJ]

Ttb

I have a tax client who had a greenhouse and closed it for business several years ago. He still has the land and the deteriorating greenhouses and wants to deduct the mortgage interest. So.... when is a business closed? I know when he does sell the property it will have to show the depreciation we claimed while it was a functional business, but what happens when the doors close?

Cathe

Beieved covered pretty well in the TTB Small Business edition 27-3 & 27-4 and IRS business section