Updated about 9 years ago on . Most recent reply
Taxes for buy and hold
Should we expect any tax advantage or disadvantage for 2016 if we purchased a buy-and-hold rental property that was never rented (never produced an income) until 2017? It was purchased by us as individuals, not through our LLC. We had no other significant changes in income or deductions.
Is there any advantage to the spending a significant amount of money to improve the property in 2016?