turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts Biz Recordkeeping & 1099-NEC Filing! >> Event happening NOW!!!!
Close icon
Do you have a TurboTax Online account?

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

Do I have to report in my IRS/State tax 2017 my 1st time rental property purchased Nov 2017,no income but expenses for repair and continue the repair until Feb 2018?

 
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

Do I have to report in my IRS/State tax 2017 my 1st time rental property purchased Nov 2017,no income but expenses for repair and continue the repair until Feb 2018?

Until you have the property up for rent or rented you will not put it on a tax return.  The costs to make it rent-able will be added to the cost basis for depreciation later. 

View solution in original post

1 Reply

Do I have to report in my IRS/State tax 2017 my 1st time rental property purchased Nov 2017,no income but expenses for repair and continue the repair until Feb 2018?

Until you have the property up for rent or rented you will not put it on a tax return.  The costs to make it rent-able will be added to the cost basis for depreciation later. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question