LLC

[nikaurysm]

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?

[ThomasM125]

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

[nikaurysm]

The property was rented in November last year.

[nikaurysm]

Property was rented last November

[MinhT1]

The money in fixing and improving the property prior to renting cannot be deducted as a rental expense, but can be added to the cost basis of your rental property.