Thank you @DianeW777 This is super helpful.
Clarification - Would the following treatment be right from your standpoint?
Before Conversion of Primary Residence to Rental - All one-time or monthly assessments to be added to the cost basis
After Conversion of Primary Residence to Rental - All one-time or monthly assessments to be expensed against rental income? If so, then what category should I reflect it in Schedule E? Homeowner association fees as part of cleaning and maintenance expense or indirect other expenses?
