Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

Is there a way to log all the expenses to fix up property in the same year i sell the rental? my closing date is jan. 2025 but i spent a pile in 2024.

Last Property Left

New Forum Member
Registered
Joined
Jul 12, 2024
Messages
1
I am going to have a huge cap; gain on my rental that is closing jan. 2025, but all the expense receipts to fix it up are from 2024, is there a way to save the expenses and put them up to reduce the cap gains on sale next year? or do i have to put them on this year's taxes even though it ends up being a 'rental loss' for me, and inflates the cap gain in 2025 when the property closes... anyone got some thoughts? (not financial advice, i know, etc. etc.)
 
Top Bottom