Investors & landlords


@stevenf wrote:

I understand paint and all supplies are deductible once the rental "STARTS" but what about prior?


You can deduct the cost of the paint you purchased and all ordinary and necessary supplies for the tax year in which they are purchased provided the property is available for rent.

 

Since you purchased (presumably paid for) the paint in the 2020 tax year, you can only deduct that expense on your 2020 income tax return.