Hi gang,
We have almost finished building our first two development properties, and about to begin marketing one, and moving into second.
We were thinking of either using our place as a "display home" or furnishing the house for sale, as it is my understanding houses potentially sell better if they are furnished properly. As such, we are wondering if we can get any tax benefits for any furnishings we buy as the primary purpose will be to extract maximum value for the house, but it wouldn't hurt if we ended up with some nice new tax deductible furniture for ourselves.
This may not be allowed, but it is an interesting thought.
Anyone?
We have almost finished building our first two development properties, and about to begin marketing one, and moving into second.
We were thinking of either using our place as a "display home" or furnishing the house for sale, as it is my understanding houses potentially sell better if they are furnished properly. As such, we are wondering if we can get any tax benefits for any furnishings we buy as the primary purpose will be to extract maximum value for the house, but it wouldn't hurt if we ended up with some nice new tax deductible furniture for ourselves.
This may not be allowed, but it is an interesting thought.
Anyone?