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I spent money in 2024 to prepare my primary residence for renting it in 2025. Which year should I apply the expenses to my taxes?
I lived in my house until the end of 2024, then spent $7800 on painting, repairs, and household purchases to make the house a rentable property. The expenses were paid in 2024, but I didn't get my first renter until spring 2025. Do I claim the expenses on my 2024 or my 2025 taxes?
a month ago