stephenson
Thinks s/he gets paid by the post
- Joined
- Jul 3, 2009
- Messages
- 1,616
Hi All,
I believe I know the answer - but, looking for some confirmation ...
Bought rental house mid December 2018, but didn't get it up for rent until 2019.
I would be able to deduct taxes paid on the property, and insurance paid on the property prior to the end of 2018 (it is simply a real estate transaction at this point), but I would NOT enter the property as a rental property as this would start the depreciation calculations (Turbotax).
Am I thinking correctly?
Thanks!
I believe I know the answer - but, looking for some confirmation ...
Bought rental house mid December 2018, but didn't get it up for rent until 2019.
I would be able to deduct taxes paid on the property, and insurance paid on the property prior to the end of 2018 (it is simply a real estate transaction at this point), but I would NOT enter the property as a rental property as this would start the depreciation calculations (Turbotax).
Am I thinking correctly?
Thanks!