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If I paid off my commercial property in a different year from when I started renting and claiming it, do I report the interest as part of the cost or do I report it in the interest line?
I bought a commercial property in 2006. It's paid off. Never claimed the interest, improvements, or anything on it. I started renting it on 2021.
When I enter the property cost, do I include everything I paid for it including the interest? Do I enter the interest separately? Or can I even claim it at all? Thanks for any help!
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‎November 9, 2023
8:03 AM