topic We bought a house in 2016 to use as rental property. We spent money to renovate the property and although the renters didn't move in until 2017, can we claim this? in Investors & landlords

We bought a house in 2016 to use as rental property. We spent money to renovate the property and although the renters didn't move in until 2017, can we claim this?

fertilitypro08 — Tue, 04 Jun 2019 21:02:33 GMT

We do not have a mortgage payment on this house. I have all receipts to show the amount we spent fixing up the place, but since we did not receive any income on it in 2016, I didn't know how to note it on the tax return.

Costs to renovate or repair a property to make it availab...

bwa — Tue, 04 Jun 2019 21:02:34 GMT

Costs to renovate or repair a property to make it available for rent are not immediately deductible. Instead, they are added to the cost of the property and recovered through depreciation,.