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re: Tax question for rental property
Posted on 4/5/16 at 7:59 pm to FratAU
Posted on 4/5/16 at 7:59 pm to FratAU
What type of repairs did you make? This will make a difference as the rules have changed the last few years. Another thing to note is when was the property available for rent. Are you self renting or using a managment company?
1
Posted on 4/5/16 at 9:44 pm to Savoiecorey
I'd definitely hire a professional CPA. I would think that most of those repairs would go into the total value of the house that would then be depreciated over 27.5 years. Other costs may go as a loss but as others have said it may depend on when your began renting it.
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