Question

STR income was very low since start up expenses are very high. can I split taxes, license fee and other expenses net year?

Forum|Forum|1 year ago
March 7, 2025
1 reply
0 views

STR income was 1700/- in 2024 while cost of appliances, maintenance, furniture, licenses and furnishings cost me more than 25K. Can I show limited expenses this year and add major part of expenses in 2025 taxes?

A

AnnetteB6

No, the expenses should be reported in the year they were incurred.

You can choose to depreciate items such as appliances and furniture over the course of more than one year in order to minimize their impact on your first year and take advantage of some of the expense in later years.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"