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Investors & landlords
I think I have found a partial answer to my Q: taxes and interest can be added to basis; in service or not as far as I can tell. So I will post the link for others who seem to be trying to get the same answer. However, I would still like feedback on my above question about capitalizing deductible expenses in general. Also, if I elect to capitalize expenses, it seems I should add it as an asset to my property, but how many years? I am in my 5th year this property as far as the house depr. Just classify it as 20 year?
‎July 20, 2024
12:00 AM