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Updated about 1 year ago,
First time home buyer but turned into a rental! How to deductible all the remodeling.
I bought last summer a house as a first-time home buyer with a conventional loan. My wife and decided to continue renting for our selves and rent the house out because it made sense. We kept the house for about 4 months due to remodeling everything inside and out, we've put about 25k into it with contractors and material and all that. Since I'm new to this, I was wondering if it's possible to deduct all the money that we have put into it to get it prepared for rent?