While a house is vacant or being rehabbed can the utility bills be deducted from your taxes? thanks Nick
My understanding is that the answer is, "Yes" if the property was purchased for investment or used as a rental during the tax year. May be more information at irs"dot"gov
Absolutly!! As long is it is for investment purposes you can deduct. Consult a CPA or the IRS web page to ensure you are itemizing correctly.
i believe until the point of getting a tenant, the costs may go towards the basis of the property and be deducted in the long run. I could be wrong John
My understanding is that the answer is, "Yes" if the property was purchased for investment or used as a rental during the tax year. May be more information at irs"dot"gov
Absolutly!! As long is it is for investment purposes you can deduct. Consult a CPA or the IRS web page to ensure you are itemizing correctly.
i believe until the point of getting a tenant, the costs may go towards the basis of the property and be deducted in the long run.
I could be wrong
John