1065- how to report expenses and depreciation related to holding property for investment Hi,
I bought properties that I need to fix up and dress up so I can sell them for a reasonable profit in the future. I have other rental properties but I have no intention to rent out these holding properties due to repair and dismal rental market in their locations. Are the expenses related to repair and renovation as well as depreciation can be treated as trade or business activities. These expenses and depreciation should just go to the first page of the 1065.
Your help is highly appreciated.
Thanks,
John369 |