Client has expenses in 2021 for purchasing investment property which did not close until 2022.
Where can i take these expenses this year.
Start up expenses (up to $5000 in year available for rent) Balance up to $50000 amortized over 15 years.
See link for easy reading, or pub 535 for official rules.
You had already asked this, here:
This is not Customer Support; it's peer users. There is no need to keep starting new topics on the same issue. I flagged your first post on this issue to be deleted.
Thank you. I will look it up this way. Appreciate your answering
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