IRS is cash based. You can set up the investment property in 2011 and deduct the cost of repairs. However if what you've done is remodeling and upgrades you have to include this cost into your cost of the house (improvement).
IRS is cash based. You can set up the investment property in 2011 and deduct the cost of repairs. However if what you've done is remodeling and upgrades you have to include this cost into your cost of the house (improvement).