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Updated about 2 years ago,
House Hack by the Room
Hello all, quick question. I purchased my house in September of this year, I am in the middle of updating my house to rent the rooms and make money from them next year. Since I have not made any income in the year of 2022 from the rooms, is there any point in going to a CPA to find deduction on the house? I have so far spent close to $20k on the house (down payment, loan fees, costs to remodel) . Not sure if I can use any of these as deductions this year since I have not made any income from the house and it was purchased as a primary residence.
Thoughts? This house is in the KCMO area.
Thanks a bunch!