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Updated almost 3 years ago on . Most recent reply

User Stats

87
Posts
42
Votes
Kristopher Kelly
  • Investor
  • Fort Walton Beach. FL
42
Votes |
87
Posts

Can I replace HVAC before tenants move in and still write off?

Kristopher Kelly
  • Investor
  • Fort Walton Beach. FL
Posted

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. 

Most Popular Reply

User Stats

87
Posts
42
Votes
Kristopher Kelly
  • Investor
  • Fort Walton Beach. FL
42
Votes |
87
Posts
Kristopher Kelly
  • Investor
  • Fort Walton Beach. FL
Replied

@Jaron Walling

I'll have the quote later today but I will have to get another quote. This guy ballparked 11k for the furnace and ac unit at 11k. I looked up online the most all three should be for a 2-ton unit is 8-10k at the most. 

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