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Tax, SDIRAs & Cost Segregation
Account Closed
  • Front Royal, VA
5
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27
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Can I deduct expenses from years ago?

Account Closed
  • Front Royal, VA
Posted Oct 28 2014, 09:53

Hi all,

Here is my situation:  I lived in a house for 2 years and I'm now renting that house out.  I plan on doing the same with the house I just moved into. 

My question is:  If I made improvements or fixes to the propery during the time I was living in it, can I depreciate the improvements and deduct the expenses 2 years later, now that it's being rented out?  As far as depreciation goes, can I depreciate the whole amount, or do I have to start depreciating as soon as the improvements are made, losing 2 years of depreciation.  Thanks for your responses!

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