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Updated about 7 years ago,

User Stats

9
Posts
1
Votes
Jennifer Schultz
  • Investor
  • Dubuque, IA
1
Votes |
9
Posts

Deducting expenses this year?

Jennifer Schultz
  • Investor
  • Dubuque, IA
Posted

Hi All~

I just joined BP, and this is my first post. ;) We started investing in real estate in 2017. My husband and I created a LLC- partnership and have purchased 2 single family homes in 2017 that we are painting and making small adjustments to. We did not have any renters in 2017. Can we deduct any of our expenses on our 2017 tax return? My accountant is saying no, because we did not have either house rented out. I just wanted to make sure that we are not missing anything. I was really hoping to have the deduction in 2017.

Thank you in advance for your time in replying!

Jennifer

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