Hello, we just bought a 2nd home in MI (we are WA state residents), and took possession of the house on 11/01. We intend to have this 2nd house be primarily a vacation rental, and we would live in it for maybe 3-4 months per year. From the time we took possession, we have been updating and improving the house to ready it to be a vacation rental. We've incurred many expenses related to the rental. We intend to have it ready to rent in late December (maybe by the 26th). My question is, are these expenses going to be deductible from our future rental income for 2021 and beyond (as carryover or rollover expenses), even if we haven't rented it out for the 14 day minimum this tax year? I mention the 14 day minimum, as everything I've seen is that the IRS doesn't want you to claim rental expenses unless you've rented it out (or had it available to rent) for 14 days in the year. But, we bought this house late in the year, and we've got to spend the time getting it ready, so I don't know that we can make it available by mid-December in order to get to that 14 day threshold.
