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Investors & landlords
Thanks for the info. That all makes sense.
How do I go about capturing those improvement costs? Do I need to record those costs anywhere on my 2022 return when they were incurred (even though I can't claim them as an expense), or do I wait until the place is rented again in 2023, and then put them on my 2023 return?
I'm also wondering, when I do start claiming rental expenses again, how do I get my old rental records back from TurboTax. I had the depreciation all set up and it was almost automatic from year to year. Now it's gone. When I start renting that property again, how do I reconnect to the previous records?
Thanks again!
Jason
March 22, 2023
10:26 AM