Solved: From 2014-2016 I spent 10's of thousands of dollars to convert my basement into a rental. Started renting in 2017. Can any part of the up-fit costs be deducted in 2016?
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sparksfamilytax
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From 2014-2016 I spent 10's of thousands of dollars to convert my basement into a rental. Started renting in 2017. Can any part of the up-fit costs be deducted in 2016?

 
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From 2014-2016 I spent 10's of thousands of dollars to convert my basement into a rental. Started renting in 2017. Can any part of the up-fit costs be deducted in 2016?

Only over time as an improvement and depreciated  27. 5 years from date placed in service.

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view2
New Member

From 2014-2016 I spent 10's of thousands of dollars to convert my basement into a rental. Started renting in 2017. Can any part of the up-fit costs be deducted in 2016?

Only over time as an improvement and depreciated  27. 5 years from date placed in service.

View solution in original post

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