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Capitalize expenses
I rehabbed and sold a single family home.
Expenses were incurred during 2021.
I closed on the sale in 2022.
My understanding is I should capitalize the expenses and claim them in 2022 when I show the income.
Do I need to do anything regarding this on my 2021 return??
Thanks in advance!
Jeff
‎February 22, 2022
9:42 AM