I have invested in a condo property. I have a deed of trust on the property for my portion of the investment, and the property owner is my business partern on the deal -- no incorporation, but a signed contract and a deed of trust, both drawn up by an attorney.

In 2008, I invested in the property, including money for extensive remodeling plus for HOA dues to the association. We have not sold the property or made any kind of income from it.

Does any of this affect my taxes? For example, can I get a deduction for any losses so far? Do I need to show my investment this year, so if we sell it in the future I can show the investment put into it in the past?

Does it even help me qualify for a home office deduction?

Thanks in advance!

Randy

May I suggest you find a good tax professional in your area and give him these details?