Can i deduct remodel expenses for an apartment attached to my garage for 2017 and 2018 if i didnt start renting until 2019?.

Forum|Forum|7 years ago
June 8, 2019
1 reply
10 views

I bought a house which has an apartment above the garage. I live in the house. The apartment needed to be remodeled in order to be able to rent it. I started the remodel in 2017 and finished in 2018. Its now rented as of 2019. Can i deduct the 2017 and 2018 expense i incurred to remodel the kitchen, bathroom, new windows etc if i amend my returns? Rental property is not my primary business.

TurboTax Deluxe Online

Best answer by Critter

You do NOT deduct the remodel expenses ... the entire cost is added to the property's basis and you must depreciate the asset in the year you start renting it.

CritterAnswer

Level 15

You do NOT deduct the remodel expenses ... the entire cost is added to the property's basis and you must depreciate the asset in the year you start renting it.