I purchased a home to be a rental property in 2020. It is to be put out to rent in 11/22 after repairs and improvements. When should i include it on my taxes? and when and how do I include the expenses from 2020 to 11/22?
posted
October 8, 20223:25 PM
last updated
October 08, 20223:25 PM
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You should be including it from 2020 forward. This allows you to carry forward any losses and deduct them against future income. This is reported on schedule E.