topic I BOUGHT A RENTAL HOUSE FOR 54000, I SPENT 20,000 TO UPDATE IT BEFOR I RENTED IT OUT. CAN I DEDUCT THE 20,000 AS A PASSIVE LOSS? in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-bought-a-rental-house-for-54000-i-spent-20-000-to-update-it-befor-i-rented-it-out-can-i-deduct-the/01/590630#M25469 Thu, 06 Jun 2019 00:06:38 GMT pmbrennan 2019-06-06T00:06:38Z I BOUGHT A RENTAL HOUSE FOR 54000, I SPENT 20,000 TO UPDATE IT BEFOR I RENTED IT OUT. CAN I DEDUCT THE 20,000 AS A PASSIVE LOSS? https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-bought-a-rental-house-for-54000-i-spent-20-000-to-update-it-befor-i-rented-it-out-can-i-deduct-the/01/590630#M25469 Thu, 06 Jun 2019 00:06:38 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-bought-a-rental-house-for-54000-i-spent-20-000-to-update-it-befor-i-rented-it-out-can-i-deduct-the/01/590630#M25469 pmbrennan 2019-06-06T00:06:38Z No. The money spent on updates for the home should be add... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/no-the-money-spent-on-updates-for-the-home-should-be-add/01/590633#M25470 <P>No.</P><P>The money spent on updates for the home should be added to the cost basis. For example, you should enter the starting cost basis of the rental property as 74,000 dollars with a "date placed in service" as of the date that you made the home available for rent.</P> Thu, 06 Jun 2019 00:06:39 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/no-the-money-spent-on-updates-for-the-home-should-be-add/01/590633#M25470 Phillip1 2019-06-06T00:06:39Z