I bought a rental property under an LLC with a hard money loan with the intension of fixing it up and then renting it out. I bought the house in April and worked on it until it was on the market for rent in October.
I know that from when it is available for rent, I am able to deduct the interest. My question is whether or not I am able to deduct the interest and utilities incurred while the property is under renovation from April to October.
I would really appreciate some feedback!
