Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Writing off a house HELP!
So, I bought a house in the spring of 2019, did a full rehab inside the house but not the outside yet. My question is from a tax standpoint. Do I write off the money I put into the house in my 2019 taxes or do I wait until I finish the house to do write offs or wait until I sell and do all the write off then? I was also told by random friends and family that I should write off my electricity bills and water bills but I feel like I'm getting bad advice there? thanks!