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ricksmer
Returning Member

Rental property.

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?

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1 Reply
doloresha
Returning Member

Rental property.

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

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