How do I do taxes on a rehab that will become a rental?

[Eric Klug]

Hello! I’m Eric. I purchased a 6 bed 2 bath with the intention of living there. I started a whole rehab, and plans changed, so it’ll one day become a rental. The problem is, the project is going on year 5.

How might I account for these expenses on my taxes if I don’t have income coming from the property? Being that I haven’t done anything with taxes yet, can I count items from previous years (i.e. new roof, insulation, electrical)?

Thanks for the help!

[Anthony Angotti]

Hi @Eric Klug

@Natalie Kolodij can help you. I've worked with her before and she's extremely knowledgeable. She helped me out when I was getting started by house hacking and got everything set up nicely.