We bought a vacation rental home in December 2015 and began renovations, including painting and decorating. The house was not available for rent until April, 2016. What can I do with these start up costs?
NO
You cannot expense anything until the rental is "available for service".
You CAN add the expenses into the basis of the property.
(that will generate a larger depreciation deduction and lower the profit at sale)
For more detailed information, please click on the link below.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
