- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
If you use the property more than 14 days or 10% of the number of days it was rented, then you do not have a rental property. All the expenses you incur are personal expenses and are not deductible if this is the case.
If some of your start-up expenses were improvements to the property, then those can be added to the basis when you do have rental income and put the property into service as a rental. The same is true for furnishings. Those can be depreciated as assets starting on the date you put the property into service.
If some of your start-up expenses were improvements to the property, then those can be added to the basis when you do have rental income and put the property into service as a rental. The same is true for furnishings. Those can be depreciated as assets starting on the date you put the property into service.
‎June 1, 2019
1:34 AM