ColeenD3
Expert Alumni

Investors & landlords

It becomes rental property the moment it is placed in service and ready and available to rent. Until that time, there is no reason your can't include your mortgage interest and property taxes on Schedule A.

 

From the IRS:

Placed in service: Ready and available for a specific use whether in a trade or business, the production of income, a tax-exempt activity, or a personal activity.