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Updated almost 3 years ago on . Most recent reply

User Stats

14
Posts
4
Votes
Philip Beckwith
  • Real Estate Investor
  • Grand Rapids, MI
4
Votes |
14
Posts

Tax deductions on 2021 purchase but rented out in 2022?

Philip Beckwith
  • Real Estate Investor
  • Grand Rapids, MI
Posted

Hello,

we bought our rental at the end of 2021. We weren't able to advertise or rent it out until 2022 because the previous owners didn't move out until early 2022. We did make some purchases of things we knew we would need to fix up the house, and obviously buying the house in the first place was a huge expense. Is there any way to deduct any of this on our 2021 taxes? TurboTax and my Google searches so far seem to say no.

Thanks in advance!

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