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Level 2
Mar 25, 2025 5:16 PM UTC
Question

LLC

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?

    4 replies

    Alumni - Intuit
    Mar 25, 2025 5:18 PM UTC

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

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    nikaurysmAuthor
    Level 2
    Mar 25, 2025 5:31 PM UTC

    The property was rented in November last year.