I have a rental property (single family house) in California.
The house is under my name (inherited from my dad).
I am a resident of Texas, I plan to file a joint return with my wife for 2022.
The house was occupied by one tenant from 1/01/2022 to 6/18/2022. Tenant rented one room, he use guest bathroom and the kitchen area.
1. After the tenant moved out, I spent about $25,000 to renovate the house. I lived on the property about 4 month to monitor the renovation process. I am wondering if I can claim the renovation cost as a deduction on our 2022 joiny tax return?
1a. In csse $25,000.00 can not be used for deduction in 2022, Will I able to use it for tax deduction when I plan to sell the rental property?
2. After the renovation, I hired a property management company to help me manage the rental property. They charged me $517.00 for making keys and minor repair work. Can I claim $517.00 for deduction purpose?
Your input/advise is grealy appreciated.
