Expenses Paid Prior To Converting To Rental
I am currently living in a property which I will convert into a rental in the next few months. I just recently went to turn on the AC for the first time, and found out that it is in need of being replaced.
My question is this. Since I will be turning this property into a rental, and will be able to depreciate the cost of the new unit, woudl it be financially beneficial for me to wait until it is converted to a rental or should I go ahead and comfort myself by buying the new unit now.
In other words, Is there a time frame where repairs and improvements may be deducted as rental expenses prior to the unit being used as a rental property.
Thanks for your help.
Comments(0)