I'm thinking of capitalizing costs under 266 this tax year (2018) for a rental property that will be vacant when I list it. I will be painting, refinishing floors, refinishing sinks and replacing countertops. I understand these are not deductible if I don't have the unit out for rent. Nor is the mortgage interest, utilities, taxes. I also understand that the painting etc are not costs associated with the sale. So if I capitalize costs and expenses for the whole year- can I capitalize the painting etc?
