The legal fees incurred to purchase property are considered as a capital expenses and added to the value of the asset. Utilities can be claimed as an expense in the first year even if there is no rental income received.
Please provide additional information on the occupancy fee purpose.
frankytai2020
New Member
shamrock55-
New Member
lpaulose1454
New Member
mfbaldwin
New Member
HikingBasher70
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.