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Updated over 9 years ago on . Most recent reply
Can repairs be deducted frm income if done when I'm living there
My accountant tells me that yes, if I have repairs like windows and fixtures fixed when I'm still occupying the house, I can deduct these. Is this true? She says as long as I move out fairly quickly after that it's clear that I made the repairs to prepare the house for renting.
Thank you!
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@Victoria Stone I just replied to another one of your posts. I think you need a new accountant. While you might be able to argue that the repair was done in preparation for renting, It would still not be deductible. It would be added to the basis.
I am guessing this "accountant" is not a CPA. I am serious, I think you need a new accountant. Perhaps @Steven Hamilton II will chime in.