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Updated almost 7 years ago on . Most recent reply

User Stats

36
Posts
4
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David Santore
  • Braintree, MA
4
Votes |
36
Posts

Renovation Write Off - Not Rented

David Santore
  • Braintree, MA
Posted

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?

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