Deduction Application Timing · 🏠 Lower Taxes w/ Ryan

Deduction Application Timing

We purchased a beach property for STR purposes. It is a new build and we take possession in Jan 2027 although we have been under contract for two years. Are any of the expenses we’ve incurred, including travel to property deductible and establishing the business aspects? Can the hours we’ve accumulated thus far be rolled over to next year after the property becomes listed for rent?

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Deduction Application Timing