Tax question for BRRRR investing
I'm planning to BRRRR my next property. What are the limits for tax deductions during the rehab on this type of investment? The property needs $20k worth of capx and repairs but it's move in ready currently.
I read in forums (can't find the posts) some of this is tax deductible if you post a "for rent" sign in the yard before you start. I will be tracking all the expenses with a business account, keep it separate from personal, but I don't want to get in trouble with the IRS. If anyone can elaborate on taxes I would appreciate it.