Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
Renovation Write Off - Not Rented
Listening to the Podcast episode 269 ("How the New Tax Code Affects Your Real Estate Investments") and I think I blew it here.
Bought a duplex for owner occupy, moved in and did some renovation work to the unit that will be the rental. Did not advertise it. The reno started in December and I am putting it on the market in a few days.
Knowing I didn't put it on the market to claim "operating expenses", since some work started in December - is that amount of contractor payments and purchases out for claiming in 2017?
Additionally, are my Jan - March 2018 expenses also out for claiming in 2018 due to their dates, or will I still be able to claim based on the tax year 2018?