The repairs you made to get the property ready to lease gets added to your basis in the property, so those are not immediate deductions, but are part of your overall depreciation deduction that commences this February when the property was ready to rent.
You can deduct the interest on the mortgage interest you paid in 2016.
The repairs you made to get the property ready to lease gets added to your basis in the property, so those are not immediate deductions, but are part of your overall depreciation deduction that commences this February when the property was ready to rent.
You can deduct the interest on the mortgage interest you paid in 2016.
Thank you! What about the monthly HOA expenses paid last year 2016?
That gets reported as one of the expenses as you go through the interview for rental property. When you come to the screen that asks "Any other expenses?" type in HOA dues and the amount for 2016