Author Topic: Can I write off these expenses regarding rental home?  (Read 1629 times)

Mighty-Dollar

  • Bristles
  • ***
  • Posts: 422
Can I write off these expenses regarding rental home?
« on: October 30, 2016, 08:33:12 PM »
If I replace the front door lock after my tenant moves out do you think this is an expense that can be written off against rental income? I am moving back in after they move out.
Same question regarding hiring a tree trimmer to do some major tree trimming (while tenants are still living there)?

MetalCap

  • Stubble
  • **
  • Posts: 132
  • Location: Washington DC
Re: Can I write off these expenses regarding rental home?
« Reply #1 on: October 31, 2016, 09:57:51 AM »
Yes for both, but if this is the last active rental for you, be prepared for a big change in taxes the following year (depreciation, upkeep/tools expenses).

Mighty-Dollar

  • Bristles
  • ***
  • Posts: 422
Re: Can I write off these expenses regarding rental home?
« Reply #2 on: October 31, 2016, 01:20:38 PM »
Yes for both, but if this is the last active rental for you, be prepared for a big change in taxes the following year (depreciation, upkeep/tools expenses).
What kind of big changes are in store for 2017?

marty998

  • Walrus Stache
  • *******
  • Posts: 7372
  • Location: Sydney, Oz
Re: Can I write off these expenses regarding rental home?
« Reply #3 on: October 31, 2016, 02:53:30 PM »
Yes for both, but if this is the last active rental for you, be prepared for a big change in taxes the following year (depreciation, upkeep/tools expenses).

Interesting. It's not so simple according to our laws... since you are no longer earning an income from the property, and the property is no longer available for rent (not being advertised etc), you could no longer claim expenses when a tenant has moved out.

MetalCap

  • Stubble
  • **
  • Posts: 132
  • Location: Washington DC
Re: Can I write off these expenses regarding rental home?
« Reply #4 on: November 01, 2016, 08:54:43 AM »
The changes aren't in the tax year of 2017 but the fact that the next tax year, you will not have a rental income to deduct from.

Marty, it's the same for us but broken up based on tax year, so as long as the property was for rent in 2016 then you could conceivably deduct expenses born in 2016