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Updated over 8 years ago on . Most recent reply
Rental property tax deduction
I purchased a house back in 2008 as a owner occupied, and spend about $50,000 for remodeling on it same time. From 2011 I converted this house to a rental investment house and stared to collect rent on it until now. Since during the remodeling time I was a living in the house i never did deduction on my tax returns. Now after 8 years am i going to be able to deduct that 50,000 from my tax return or increase my depreciation deduction on my tax return?