turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

nickahern
New Member

Can i deduct remodel expenses for an apartment attached to my garage for 2017 and 2018 if i didnt start renting until 2019?.

I bought a house which has an apartment above the garage. I live in the house.  The apartment needed to be remodeled in order to be able to rent it. I started the remodel in 2017 and finished in 2018. Its now rented as of 2019. Can i deduct the 2017 and 2018 expense i incurred to remodel the kitchen, bathroom, new windows etc if i amend my returns? Rental property is not my primary business.  


x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Can i deduct remodel expenses for an apartment attached to my garage for 2017 and 2018 if i didnt start renting until 2019?.

You do NOT deduct the remodel expenses ... the entire  cost is added to the property's basis and you must depreciate the asset in the year you start renting it. 

View solution in original post

1 Reply

Can i deduct remodel expenses for an apartment attached to my garage for 2017 and 2018 if i didnt start renting until 2019?.

You do NOT deduct the remodel expenses ... the entire  cost is added to the property's basis and you must depreciate the asset in the year you start renting it. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies