I have a home under construction that I plan to use as a short-term vacation rental. We own the property and pay monthly fees to an association, community water fees, property taxes, and mortgage interest. But the house is not a rental yet. I understand that mortgage interest can be included in the capital basis once the home is completed and we start renting it out. But does this apply to the various fees and property taxes we have paid? I would like to deduct some of those expenses this year if possible.
