topic If I purchased a rental property in 2018 but did not receive any rental income, needed to fix the property, can I claim any of the expense I incurred? in Investors & landlords

If I purchased a rental property in 2018 but did not receive any rental income, needed to fix the property, can I claim any of the expense I incurred?

pmeiss — Tue, 04 Jun 2019 01:10:42 GMT

Property needed major repairs to meet local codes, so I was unable to rent in 2018 (no Income) can I put all expenses and depreciation on 2018 return or do I need to show income first.

Expenses incurred to prepare a home for rental are not de...

MinhT — Tue, 04 Jun 2019 01:10:43 GMT

Expenses incurred to prepare a home for rental are not deductible as rental expenses. However, they can be added to the cost basis of your home.

Depreciation can only be claimed from the day the property is put on the rental market.