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Updated about 7 years ago on . Most recent reply presented by

Stephen D.'s profile image
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Stephen D.
  • from Tyler, Texas
  • Member since Aug 4, 2016
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Stephen D.'s profile image
Stephen D.'s profile image
Stephen D.
  • from Tyler, Texas
  • Member since Aug 4, 2016
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Stephen D.
  • Tyler, TX
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7
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Tax, SDIRAs & Cost Segregation

House under contract in 2017, closed in 2018 (Tax Question)

Stephen D.
  • Tyler, TX
Posted

Hi All,

I am a Texas investor that was under contract on a house in Dec of 2017, but didn't close on that said house until Jan of  2018. My inspection/ due diligence cost all occurred in 2017.

How does this work on my taxes for this year? Do I write off the 2017 inspection cost associated with this house on next years taxes? If not, how would I include this in my deductions without having a house to deduct this expense from?

Any advice would be greatly appreciated

Thanks 

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