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Buy to Rent? If you buy a 2nd home at what stage can you charge costs against rent?
If I buy a 2nd home and spend money on it to do it up when can I charge those costs against income?
4 Answers
- DaveLv 41 decade agoFavorite Answer
Costs to fix up the home to rent go into the basis (cost) of the house. You can't charge them against income for tax purposes. Costs to maintain the house while it is rented, and any other costs you incur in renting, like fees you pay to an agent to manage the property, are charged against the income from the house. You can also charge depreciation.
- biancaLv 41 decade ago
from your investment property every penny you spend, you write off from your taxes .