Updated over 3 years ago on .
Most recent reply
presented by
Capital ex (roof) cost within a rehab loan
In purchasing for BRRRRs, our bank provides the loan with built in cost for rehab. So my question is, do you report the cost of the roof to your CPA when you are reimbursed from the bank for such, or wait until rehab completed and loan closed out? We are in the process of a slow rehab with roof completed in 2021, but remainder of house to be finished 2022. Which tax year do you use?