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In 2021, construction began on a secondary home in a different state than the one in which I live. I do not have a primary home, but am a renter. Tax implications?
Construction, due to supply line issues, is still not complete in 2022, but will be (probably in March or April). What are the tax implications of building a secondary home (when I do not own a first, but am renting)? Can any of the expenses, including Builders Risk insurance or, shortly, homeowners insurance, be a deduction? Thank you for any help here
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‎February 19, 2022
6:01 PM