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Level 2
March 25, 2025
Question

LLC

  • March 25, 2025
  • 1 reply
  • 2 views

I obtained an LLC in October last year and barely made any income. However, I did spend money to fix the rental property. Can I still file for the money spent?

    1 reply

    Level 15
    March 25, 2025

    No, you can't deduct costs for your rental property until it is available for rent.  

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    nikaurysmAuthor
    Level 2
    March 25, 2025

    The property was rented in November last year.