dascpa
Level 11
04-09-2024
06:28 PM
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The purchase and rehab of an property has no P&L Effect. It's all balance sheet items. Once the rental is in use you can then start depreciating the property and claiming ordinary and necessary operating expenses.
Then you need to look at: passive activity loss based on income? Also, active vs material participation?
Seems like you could use some continuing education in this area.