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Updated almost 2 years ago,

User Stats

285
Posts
166
Votes
Martin Scherer
  • Rental Property Investor
  • Liberty Hill, TX
166
Votes |
285
Posts

Question about expenses

Martin Scherer
  • Rental Property Investor
  • Liberty Hill, TX
Posted

In September we purchased a single family home which with minor changes was easily turned into a home and a studio. They are both STR's. I am wondering should the conversion, construction costs be counted as an expense or added to the basis of the property? The costs were only about $5500. All changes were made before we ever received a guest payout.

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