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Updated over 4 years ago on .
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Rental Expenses Incurred Before Property is Rented
We moved from our primary residence 4/25 and spent a few months painting, reflooring, etc before deciding to rent it instead of selling. It was eventually rented on 8/15. Question is - are mortgage interest & property taxes deductible in the period between 4/24 and 8/14? What about the improvements- are those added to the basis and depreciated effective 8/14? Thank you!
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
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Generally, the work you did after you moved out will be added and depreciated.
From practical standpoint, I would just deduct The mortgage interest and the taxes after you moved out. Shouldn’t be material to sweat over it.
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