You'll need to sign in or create an account to connect with an expert.
It depends on the timing of your situation.
If you continued to advertise and offer the property for rent after the tenant moved out and while the repairs were made, then the cost of the refinishing could be considered a rental repair expense because the property was still a rental property when the work was done. There would need to be a period of time that it was available for rent before you decided to convert it back to personal use.
If the property was not advertised and available to rent at the time of the repair, then you had already converted it to personal use. If the repairs were made after that time frame, then it is a personal expense and is not deductible.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
wenniget
New Member
AkStep
New Member
barnett009
New Member
snugglez
Level 2
ocelotjoy
Returning Member