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Updated about 7 years ago,

User Stats

41
Posts
21
Votes
Drake Espenlaub
  • Investor
  • Evansville, IN
21
Votes |
41
Posts

New Rental 25k in improvements no tenants, write offs?

Drake Espenlaub
  • Investor
  • Evansville, IN
Posted

Bought a duplex in May, it was to be owner occupied for a year, therefore it is my 'primary residence' however it needed much improvement. I have put about 25k of my own money into improvements, 10k in HVAC, 3k Windows, 4k flooring, for just some of the larger expenses. 

I also bought a 2004 explorer so I could have a vehicle to haul things for the project, future projects.

Question is any of this deductible this year given the fact I haven't generated any income ($0 from other rentals as well) in from this property? 

Thanks for the advice.

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