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I inherited a home in March 2018. We are renovating, will rent in 2019. Can I deduct construction costs and property taxes on 2018 return?
We refinanced our primary residence to pay for repairs to my inherited house. I (Jenny, spouse) own the second house, we own our primary residence jointly. We have spent about $45,000 so far, we are doing the work ourselves. We had no rental income in 2018 from the second house. The house was owned until 3/6/18 by the previous owner.
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‎June 3, 2019
10:15 AM