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Investors & landlords
You begin claiming rental expenses as soon as the property is available for rental use. The combined cost of improvements is entered as one asset on the date you place the property in service for rental use and advertise as such.
You will need to get a copy of a prior year return to add your original assets back to the current return if they were taken out of service. You will enter them exactly as they were originally entered.
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March 22, 2023
10:54 AM