We purchased a home in 2020 to use primarily as short term rental (ie-VRBO, AirBnB). We started to rent the home at the end January 2021, so we had no income for it in 2020.
We had a good deal of expenses (bringing some things up to code, furniture, linens, professional fees). As I understand it, we can put this 'against' any income in following tax years. Since this is the case, do I need to report of these on our 2020 tax returns?
Thanks
Todd
