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sparksfamilytax
New Member
posted
‎June 4, 2019 4:55 PM
last updated ‎June 04, 2019 4:55 PM

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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New Member
‎June 4, 2019 4:55 PM

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
‎June 4, 2019 4:55 PM

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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