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Updated about 3 years ago on . Most recent reply

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8
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Yoon Seokwoo
2
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8
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expense before starting rental

Yoon Seokwoo
Posted

I have a few simple questions as I am debating myself for doing some work (painting, flooring) either by myself or by hiring on a house (property A) that I will turn into rental property.

Q1. If I spent money on it (say 1-2 months) before it becomes rental property, can I expense it for tax report? 

Q2. I will also need some work on another house (property B - primary residence). A painting company gave me one quote combined for both houses. In this case, can I expense this whole money spent for the rental house (property A) ? Or is it necessary that I request the company two seperate invoices? 

Thanks as  always!

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