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Investors & landlords
None of that is deductible expenses. It is all improvements and will added to the cost basis of your home. The portion attributable to the apartment will then be depreciated for your cost deduction, once it's available to rent.
Even items that would normally be expenses (e.g. painting) must be capitalized (added to your cost basis) because the work is being done to get the unit ready to rent.
‎June 6, 2019
7:47 AM