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Rental Property - expenses from last year
I purchased a house in 2021, but did not start renting it out until 2022. I was told I could still use the expenses in 2021 on the 2022 tax report once I start renting. We fixed up the house by painting all the rooms, the exterior windows, and fixing the shed. We also fixed some electrical work. We also paid taxes and insurance on the house in 2021. Are we able to expense these costs in 2022, now that we are finally renting the home in 2022?
‎November 16, 2022
12:55 PM