Thank you so much for the clarity. Much appreciated.
I see why I'm confused - there are numerous postings on the internet, including within tax account sites, that seem to say someone who is in the *business* of renovating buildings for rentals can deduct all the costs associated with the renovation *because that is their business*.
But you are saying "Until it is placed into service as a rental, any expenses you incurred in getting the property ready to be rented are personal expenses and are not deductible. "
Furthermore, I guess, the only expenses that can be deducted are for improvements.
Would rebuilding a bathroom that had a collapsed floor, adding a new toilet and sink and shower stall count as an improvement or repair? It is improved from it's former self. . .
