We had a renter move out in July and spent all of August and some $7,000 getting it ready to rent again including damages to walls, doors and carpet. We kept all receipts for materials and labor. Is any of this tax deductible?
posted
November 16, 20221:23 PM
last updated
March 09, 202611:50 PM
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The cost of the repairs to the rental property are entered as an expense on Schedule E which will reduce your net profit from the rental or cause a net loss on the rental property.