We are building a rental house. We spent almost $3000 renting a manlift. Knowing we would need to rent the Manlift many more times before the project is done, we decided to buy an older used manlift for $17,000 in December 2023. After this job is done we will take it home and convert it to personal use. There have been expenses for necessary repairs as well. We hope to place the rental into service in the fall of 2024. If we don't depreciate the manlift, can we deduct the cost of the diesel to drive 466 miles to pick up the manlift, and the cost of parts and repairs as expenses to add to the basis of the rental?
