I have a rental that was vacant all 2020 year to do extensive repairs. It required a complete remodel to eliminate black mold throughout the house, paint, replace all flooring, replace appliances, install new floor drain tile, remove and replace drywall etc. The repairs will improve the property since the appliances, flooring, fixtures etc. will be new, but the repairs were necessary due to the damage. No one could move in during this time. Are any of these expenses deductible in 2020 tax return? I also continued to pay property taxes and utility bills during this time. Are these expenses deductible. Some repairs cost over $600, I do not know how to answer the Form 1099-NEC questions.
