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Updated about 2 years ago,
STR tax deductions when there’s no rental income
We bought an STR this year but we were not able to rent it at all due to some repairs that took much longer than expected.
Wondering what to expect come tax time. Will we not be able to write off any of these expenses because we have no rental income?
Some additional info. I have 1099 income from my LLC that has nothing to do with real estate. Though we didn't purchase the STR with LLC on the deed.