GiseleD
Expert Alumni

Deductions & credits

Normally, repairs can be deducted immediately and only improvements must be depreciated. However, if your property is not in service, you cannot deduct the repairs immediately. If your property was not in service in 2019, you cannot deduct the repairs in 2019. However, they are not lost. In this case, you will have to capitalize them (add them to your basis), and recover them through depreciation when the property IS placed in service. The term of depreciation will depend on the property class. 

 

Based on the information you've provided, there's nothing for you to enter into TurboTax this year regarding your rental property.

 

Unfortunately, I cannot give you advice on how to enter this information until the 2020 program is released (sometime in 2021).

 

@bttrainingyard

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