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Updated almost 5 years ago,
Tax Deductions for Investment Property not yet rented
Hi,
I bought an investment property in July 2019 (all cash purchase). Took me some time to remodel it. Had to fix everything. Spent $12.5K on roof (did through a roof company) and then around $55K on everything else (went with various non licensed ppl).
My questions are
1. Can I depreciate the investment property given that it has not yet been rented out
2. Is there any deduction that I can do on the roof replacement
3. Any other deductions given the property hasn't yet been rented out