Agreed on the 4 pictured one - just wanted to test out and see if it would help.

The approved contractors have to meet insurance guidelines (often not met by an average company), typically are certified by national and state agencies in home energy efficiency, and invest around $10k in energy testing equipment just to participate.

Start-up costs are also deductible but are amortized over 15 years with a limit of 5k.Start-up costs have strict rules and your case might not be the same as this one.Case Summary:Timeline line of eventsStarted investigating property: FebPut first contract (canceled): MayBought first property: December 30thWhether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business:Whether the taxpayer undertook the activity intending to earn a profit;Whether the taxpayer is regularly and actively involved in the activity; andWhether the taxpayer's activity has actually commenced.On the basis investor testimony, we may assume that he undertook this activity to make a profit and that he regularly and actively engaged in it.

B. tested the unit to see if it's actually defective.

They did also send me a 1099 at end of year, so be prepared to pay taxes on that money if they do it like that.  

Here's a quick test... call the company yourself, see how long they take to answer the phone and how they answer the phone.

Be prepared with solid financial projections to present to lenders.9.

Key is talk with your tax preparer.  

However, you may be able to capitalize some of these costs, particularly if they relate to improvements or preparation of the property for rental.Expenses (after December 1, 2023):Any expenses incurred starting from when the property was available for rent (December 1, 2023) can be deducted.

This streamlined process can save time and reduce the likelihood of errors.QuickBooks is designed to simplify tax preparation and filing, allowing you to focus on running your business.