Info_Seeker
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Hi Folks,
I bought a property in Nov 2023. Renovated it in Nov & Dec and rented it out.
Tenancy agreement commenced on 30th Dec 2023. Deposit hit my account on 29th Dec 2023. First rent hit the account on 2nd Jan 2024.
What's the best way to deal with it from Revenue perspective?:
1) File it in 2023 return (it will only be expenses and capital allowances)
2) Wait and file in 2024 (it will be everything: rent, expenses and capital allowances)
3) Any other suggestions?
Thanks.
I bought a property in Nov 2023. Renovated it in Nov & Dec and rented it out.
Tenancy agreement commenced on 30th Dec 2023. Deposit hit my account on 29th Dec 2023. First rent hit the account on 2nd Jan 2024.
What's the best way to deal with it from Revenue perspective?:
1) File it in 2023 return (it will only be expenses and capital allowances)
2) Wait and file in 2024 (it will be everything: rent, expenses and capital allowances)
3) Any other suggestions?
Thanks.