All Forum Posts by: Tanya Hurst

Thanks for the replies.  I used the word expense incorrectly.  I meant it as the biggest cost we've had on the house so far and I don't want to miss out on the tax benefit of it.  I'm looking for a CPA to help me on this journey as I agree there is a lot I don't know.

Hi everyone. We may not be able to get our STR in to service in 2023 as we had planned. Are we able to take the expenses from 2023 and roll them into our 2024 taxes? The largest expense we've had so far is the new heating and air.

Can you apply a 25C federal tax credit to a STR? All the info I see says it has to be a primary residence?

Bought my first investment property in August 2023. We've been working hard to get it ready to be listed as STR. I've been reading and listening to as much information as I can find. I feel confident, but nervous at the same time. At what point should I start talking to CPA's to get a tax strategy started? My goal is to puchase additional STR's. If now, does anyone have any recommendations?