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Updated over 5 years ago on . Most recent reply

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Michelle Schrader
  • Real Estate Agent
  • Rochester, NY
8
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Advertise in December for tax purposes??

Michelle Schrader
  • Real Estate Agent
  • Rochester, NY
Posted

I am closing next week on my first rental property, I'm still trying to learn and absorb a lot of information. We have some rehab to do before it is rent ready but could probably complete by mid to late December. My question is how hard should we push to get this advertised to rent by the end of the year for tax purposes?  In reality I see us being able to move a tenant in by January or February but will still be finishing up the kitchen, baths, flooring and carpet into December. 

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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
Replied

@Michelle Schrader

The in-service date for the rental will be whenever the property is listed as available for rent and in habitable condition.

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