I converted my home into a rental on 4/28/2022. In preparation, I refinished my existing hardwood floors in November 2021. Can I add that to my house's cost basis, i.e., is it considered improvement? Thanks.
That would be considered as a "Repair". You can claim that as an expense in 2022.
Doesn't Pub 957 say we can only claim expenses incurred after in-service date?
Pre-rental expenses.
You can deduct your ordinary and necessary expenses for managing, conserving, or maintaining rental property from the time you make it available for rent.
That would be considered as a "Repair". You can claim that as an expense in 2022.
How did you determine that? OP clearly states, " converted my home into a rental on 4/28/2022. In preparation, I refinished my existing hardwood floors in November 2021."
The refinish was done a full 6 months before the property was converted, and most likely they were still living in it as their primary residence. While it is considered a repair, it's definitely not deductible anywhere on the tax return; especially not on the SCH E. Doesn't matter that it was "in preparation" for converting it to a rental or anything. The property was not in service as a rental anywhere close to Nov. 2021. Not even the same tax year for that matter.