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Updated about 11 years ago on . Most recent reply

User Stats

228
Posts
43
Votes
Mark Gruetzmacher
  • Investor
  • Box Elder, SD
43
Votes |
228
Posts

Mobile Homes with repairs-Expenses/Tax question

Mark Gruetzmacher
  • Investor
  • Box Elder, SD
Posted

Hey Everyone, If you caught my last thread you will know I bought a couple mobile homes to be used as rentals.  Both of these mobile homes need repairs, flooring, cabinets, sheetrock, windows, siding, etc.  Once fixed they will be rented out.  I am putting everything on a spreadsheet and was thinking about how they would effect the rental income as expenses or do they get added to a basis instead.  Not sure if this would be the correct forum for this question but thought I would ask.  Also what do you used to manage all of the expenses and income.   I am trying to plan ahead of tax season.   Figured most of you might know since you have mobiles as well.

Thanks

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