Yes, you may claim the expenses on Schedule A if you itemize.
You won't receive depreciation after it was no longer a rental (in 2024), however you will still need to address the depreciation recapture.
It will be a little tricky at that point since when the property is sold, you will need to estimate how much of the sales proceeds go against the basis you reported when the rental was placed in service.
In other words, say you purchased and placed the building in service with a basis of 100,000.
Say the depreciation taken (or could have been taken) is 25,000.
Now the "Adjusted Basis" is 75,000.
If it's sold for 250,000, you would have 25,000 depreciation recapture (Ordinary Income) and 150,000 Capital Gain.
Same example, but in 2024 you spend 5,000 to clean and paint and 15,000 on a new roof and 7,000 on landscaping that all died.
If it's sold for 250,000 you will still have 25,000 depreciation recapture, but the Capital Gain will be a little harder to figure.
Do you add the roof to the basis of the house? Can't add cleaning and paint since that does not increase the value and the landscaping all died. So if the new adjusted basis is 90,000, you'll have 25,000 depreciation recapture and135,000 Capital gain. 12,000 for the cleaning, painting and landscaping that died would be lost because those things did not add to the value of the house from when it was first placed in service.
It is a bit complicated. Expenses (like maintenance) paid for a building that is not available for rent are lost. Make sure you keep good receipts.
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