Colorado CPA taxes questions
I bought a land and build a Spec house (intend to sell ) which was completed at the end of January 2020. this is the only one I built so far, and it's also the only investment property I have. There were construction loan interest, Heloc loan interest, and attorney fees, as well as property tax associated with this Spec house in 2019. The house is till on the market, hasn't been sold yet. What expenses can I deduct when I file 2019 tax return? or if there is any I can deduct? I am not sure if I am considered as a property dealer or not. I have simple tax return in prior years, so I've been prepared it myself. I plan to find a real estate tax accountant next year, however I am not sure I will need one this year, mainly because I really haven't get any profit yet, and I've been spent money in the past half year. thank you for all your input!