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June 1, 2019
Solved

Bought property in 2016 to rent but gutted. Did reframing, windows, rewired, new HVAC & starting insulation, plumb, drywall etc... when do deduct expenses? No income yet.

  • June 1, 2019
  • 1 reply
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Best answer by TaxGuyBill

That is all added to your "Basis" for depreciation once it is available to rent.  Until then, none of that is deductible.

1 reply

Employee
June 1, 2019

That is all added to your "Basis" for depreciation once it is available to rent.  Until then, none of that is deductible.

nhundterAuthor
June 1, 2019
Thanks! I figured that was the case. Thanks for your time and consideration in this matter.