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Updated almost 7 years ago,

User Stats

34
Posts
2
Votes
Anne Dahl
  • Investor
  • Oakland, CA
2
Votes |
34
Posts

What can I deduct from my taxes prior to putting a VR online?

Anne Dahl
  • Investor
  • Oakland, CA
Posted

Hi all,

I have put my vacation house on VRBO/Airbnb and would like to know if I can deduct the work I put into it prior to renting?  We purchased a bunch of PAX units to store our belongings in 2016 and installed them early 2017.  In addition, we painted, cleaned, repaired (and bought a 4plex in the middle of it).  So as 2017 ended we have spent roughly 7K and rented the cabin less than 14 days this year.   We are off to a great start in 2018 with 22 days rented so far.  

As I understand it, we don't even need to declare the 10 days it was rented in 2017, but we would like to take these deductions if possible, to offset long-term rental earnings elsewhere.

I'm in the process of finally finding a CPA to help me, but thought I would ask here in case someone has an answer to my question.  Also, if you have a good CPA in the Oakland or general Bay Area, I'd love to have their contact info.  

Gratefully,

Anne

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