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Updated about 2 years ago,
Writing off the remodel expense for a rental property
Hey all,
I am on W2 and curious if I can pay less tax by writing off the remodel expenses of a rental property (that’s is under my name).
As an example, if I earn 80k, and I remodel my rental property by spending 40k.
would that 40k tax deductible, and I end up paying tax only for 40k?