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July 13, 2020
Question

We invested stock money to finished our basement and open an AIRB&B Where do I add the cost of this investment ?

  • July 13, 2020
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1 reply

July 13, 2020

When you are reporting your rental income for the airbnb, the portion of your home that is being used as a rental will be depreciated.  The cost of the improvements that were made to the basement area will be added to the basis of your home and will be recaptured through claiming depreciation of the rental portion of the home.  

 

 

@bog1

 

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