Liked your post. Very informative.
I inherited my father's mountain cabin 7 years ago and it's been in repairs ever since, never been placed in service.
I kept it in his trust until recently and want to transfer the capital expense losses to my tax return.
Do I just continue to keep financial records until the day that I place it into service and then I can add it to my return and begin depreciating those capital expense renovation costs over 15 years?
