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Updated almost 6 years ago,

User Stats

22
Posts
13
Votes
Steve Weihe
  • San Diego, CA
13
Votes |
22
Posts

Tax deductions-6 month rental before selling last year

Steve Weihe
  • San Diego, CA
Posted

Morning all,

We sold our house late last year in San Diego and ended up renting it out for the previous 6 months as initially our buyers didn't qualify.  We spent almost $12k to get it rental ready (repairs, replacing worn out carpet and floors).

We used the sale proceeds as a down for our primary home and plan to live here for the long haul.  

We usually use TurboTax but it has us owing almost $2k even after deducting depreciation, repairs, child car etc.  I think we must be missing something.  We gross only about $100k total (wife and I).

Looks like a need a CPA versed in real estate.  Thanks for any advise you can offer.

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