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Updated about 5 years ago,
Questions Regarding First Rental Write Offs
Hello everyone, this is my first post on Bigger Pockets! I just recently closed on my first Duplex. I have a few questions regarding tax write offs that I would like answering.
1. Before closing, I purchased a new dishwasher for my primary home. I would like to install the "old" one in one of the units. What if anything would be a write off and what category would it be in?
2. I purchased a brand new trailer weeks before closing on the property. The primary use of the trailer will be tool storage and for R/M on the duplex. What if anything would the the write off and what category?
3. I also purchased several power tools and equipment beforehand for the primary use for the duplex. The same questions remain for this one.
4. Is mileage to and from the renal for walkthrus, lawyer meetings, etc prior to closing a write off?
Please advise, Thanks in advance