Here is where the confusioin arises. The parties responding to this post are using the word "improvements" and "costs" interchangeably in regards to when the property is put on the market, even though the rules applying to improvements are different than general "costs" and it would appear are sensitive to when the property is placed on the market.
I get that.
For example, one respondent said: "Your costs associated with the getting the property in a rentable state, are not recoverable until the property has been placed in service (available to rent) "
Please note that part of my question was in regard to costs (not improvements) incurred before it was rented - so when respondent state "Your costs associated with the getting the property in a rentable state, are not recoverable until the property has been placed in service (available to rent)" it sounds as if those costs (the ones expended before it was rented) can be deducted or added to the basis or capitalized. Yet I'm also reading that those costs are not deducted, added to basis or capitlized because the property was not rented yet.
Apologize for the nit-picking but use of language is similarly specific just like the U.S. tax code is.
I'm just trying to understand it.
