hurthfam
New Member

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.