New investor in Pueblo, CO. Needs tax advice.

Rental Property Investor · Pueblo, CO · Member since 2021 · 5 posts · 4 votes

I just bought my first investment property in Pueblo, CO. Should I be keeping all my receipts and invoices during my rehab? I just want to make sure I'm not missing any opportunities for write offs.

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Joe Martella
Rental Property Investor · Cherry Hill, NJ · Member since 2015 · 626 posts · 495 votes
4y
Try this post:
Ask me (a CPA) anything about taxes relating to real estate (biggerpockets.com)

I used Stessa.com to track my rentals. Also there are some tax books to read, which can be found on this thread:

Real Estate Tax Book? (biggerpockets.com)

Then there are self-management posts that you should take a look at:
Best GoTo Software for Rentals (biggerpockets.com)
Self management property tools (biggerpockets.com)

Hope this helps.

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Ben ScottPro Member
Property Manager · Oklahoma City, OK · Member since 2019 · 580 posts · 351 votes
4y
Yes, keep all your receipts as these costs could be used to offset any gains once the unit is stabilized.
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