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Updated almost 3 years ago,
Can I replace HVAC before tenants move in and still write off?
Hey BP Fam,
Who would've thought huh? I have 50k in equity and went the route of renting out my home vs selling. One thing I should've thought about was that the HVAC and water heater are all 20 years old. The costs to replace all three are anywhere from 10-15k. From a tax perspective do I have to wait until my tenants move in to be able to write these repairs off? Basically, can I do it now in April 2022 and the tenants don't move in until June 2022. will I still be able to write off the repairs? I hope I am explaining this correctly.