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Tax, SDIRAs & Cost Segregation

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David Barwick
  • New to Real Estate
  • Joplin, MO
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Claim depreciation this year or wait until next?

David Barwick
  • New to Real Estate
  • Joplin, MO
Posted Oct 25 2021, 18:16

I just closed on a single family that I will offer for rent once I get done painting and doing some small repairs.  It will probably take me a couple weeks.  If I’m unable to get a tenant moved in before the end of the year, do I still claim depreciation on this house?  It was purchased as an investment property (i.e., all the mortgage paperwork describes it as such).  

Second question: if it doesn’t rent until next year, do I still get to deduct cash spent on repairs, etc?

Thank you!

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