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Updated over 1 year ago on . Most recent reply presented by

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Steve Wright
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Repairs & Maintenance Deduction on First Rental?

Steve Wright
Posted

Hello!  Last October I moved from my former home and am now renting it out (to my daughter and her boyfriend).  I understand that I can deduct repairs and maintenance, though not improvements.  My question is, does that begin from the moment it became a rental or is there a "lookback" period, allowing me to count prior repairs & maintenance for a certain amount of time?

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123
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Kelly O'Keefe
  • Accountant
  • North Carolina
163
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Kelly O'Keefe
  • Accountant
  • North Carolina
Replied

The period you can begin to deduct expenses  starts when it was "placed in service" this means when it was listed as available for rent. Was the property vacant prior to October when she moved in?

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