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Updated almost 5 years ago on . Most recent reply

David Osborn's profile image
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David Osborn
  • from Atlanta, Georgia
  • Member since Apr 17, 2018
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David Osborn's profile image
David Osborn's profile image
David Osborn
  • from Atlanta, Georgia
  • Member since Apr 17, 2018
Connect
David Osborn
  • Atlanta, GA
4
Votes |
8
Posts
Job Loss/Company Closings

End of year property purchases

David Osborn
  • Atlanta, GA
Posted

If you buy and renovate a property in December 2019 but don't start leasing it until the following January, can you take any write offs on your 2019 taxes or do you have to add those December expenses to your basis and start depreciating the whole amount for 2020?

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