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Updated almost 8 years ago on . Most recent reply

Anna Milligan's profile image
Anna Milligan's profile image
Anna Milligan
  • from Columbus, Ohio
  • Member since Jan 25, 2016
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22
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Anna Milligan's profile image
Anna Milligan's profile image
Anna Milligan
  • from Columbus, Ohio
  • Member since Jan 25, 2016
Connect
Anna Milligan
  • Columbus, OH
8
Votes |
22
Posts
Buying & Selling Real Estate

Taxes for buy and hold

Anna Milligan
  • Columbus, OH
Posted

Should we expect any tax advantage or disadvantage for 2016 if we purchased a buy-and-hold rental property that was never rented (never produced an income) until 2017? It was purchased by us as individuals, not through our LLC. We had no other significant changes in income or deductions.

Is there any advantage to the spending a significant amount of money to improve the property in 2016?

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