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Updated over 3 years ago,
Deducting improvements from a rehab?
I am starting a rehab for a single family property come the beginning of June (tenants lease ends may). I am researching about section 179 of the tax code and trying to understand if this applies. The house is under my name and not a LLC. And this should be a fairly extensive gut. Can someone please give me some insight as to if I am able to deduct rehab costs? If so how? And what other tax strategies do you guys do when rehabbing a long term rental? Thanks In advance