In 2023, I spent about $225K for construction, permits, and blueprints. Need help on how and where to include on my tax return.
- Permits and Construction started 1/2023 & 2/2023.
- Available to occupy was 5/2023.
- ADU (Rental Unit) built above garage and on same property as Primary Address (which I live in).
- ADU is detached and has separate address and separate metered utilities then Primary house.
I think this is pretty straight forward, just need peace of mind that I am recording it correctly on incomes taxes.
TJMADU-2023
