I purchased a house in 2021 and have been fixing it up ever since. Lots of expenses in 2022 but suspect none are deductible until I sell it. It should sell in 2023 with me financing the sell. I expect it will be a 10 year loan. Because it will be financed over several years would this be considered a sell of a business property? Am I correct in assuming there are no deductible expenses in 2022 (I took none in 2021 when I purchased it)?
This is the only house I have (or will) do like this, I have other primary employment and am not a "house flipper".
Thanks,
Ron
