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Updated over 2 years ago on .

User Stats

7
Posts
1
Votes
Neal Weinstein
  • Investor
  • NYC
1
Votes |
7
Posts

Rehab - property clean out tax status

Neal Weinstein
  • Investor
  • NYC
Posted

Hey all, first time posting here on BP.  I am embarking on a rehab project which I will rent out after rehab is complete.  My question is on the initial clean out of the property.   The prior owner was a hoarder  and will need to be cleaned out with hazmat gear.  Cost estimate is around 6500.  Can I deduct that off my taxes as opposed to capitalizing it since the cost is essentially cleaning?  Any other tips on individual items I can write off during a rehab?  Tree removal maybe?  Figure it’s worth asking.  

Thanks!!


Neal