- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I purchased an investment condo in early Dec. 2017 that required work. It will be available to rent in mid-Jan. 2018. Can I deduct any of the expenses in 2017 or 2018?
Topics:
posted
June 4, 2019
8:02 PM
last updated
June 04, 2019
8:02 PM
Connect with an expert
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
3 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I purchased an investment condo in early Dec. 2017 that required work. It will be available to rent in mid-Jan. 2018. Can I deduct any of the expenses in 2017 or 2018?
The work to get the rental property ready to rent will be added to the "Basis" (similar to cost).
That will start in 2018, when it is available for rent.
June 4, 2019
8:02 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I purchased an investment condo in early Dec. 2017 that required work. It will be available to rent in mid-Jan. 2018. Can I deduct any of the expenses in 2017 or 2018?
Thank you! So for 2017, would I leave the rental property off of the return completely?
June 4, 2019
8:02 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I purchased an investment condo in early Dec. 2017 that required work. It will be available to rent in mid-Jan. 2018. Can I deduct any of the expenses in 2017 or 2018?
Yes.
June 4, 2019
8:02 PM
Still have questions?
Make a post