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Discussion Forum Index --> Tax Questions --> When can expenses be deducted for a converted rental property?
Aknana (talk|edits) said:
| 12 August 2006
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| A personal residence was converted to a rental property but was being renovated during the last of 2005 and not offered for rent until 2006. What happens to the 2005 utility expenses and depreciation for the converted property?
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Solomon (talk|edits) said:
| 13 August 2006
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| Deductions start when it is ready to occupy and held out for rental.
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Aknana (talk|edits) said:
| 16 August 2006
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| But, can the expenses (utility bills, etc.) be accumulated from a previous year and deducted once the place is rented?
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Tctaxservice (talk|edits) said:
| 17 August 2006
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| I would say no. If not available for rent then those expenses are lost.
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JCTMSTx (talk|edits) said:
| 17 August 2006
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| Under 195 these don't even fit under start costs or expenditures for amortization.
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