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?
Announcements
Do you have a TurboTax Online account?
We'll help you get started or pick up where you left off.
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?
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.
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.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.