Is anything deductible on a vacation home purchase that is not yet rented?

[1housewizard]

Hello friends. I took a HELOC on NJ home to buy a vacation rental in Florida (early 2024). Did not receive approval to start renovations by year end. No renters in '24 but lots of expenses (oil tank removal, taxes, utilities, termite tenting, lawn maintenance/tree removal, insurance, etc.). I traveled several times. Stayed with family (no charge) but took flights and ate plenty. Is anything deductible for 2024 taxes? Thank you. 

[ThomasM125]

The only things that would be deductible in 2024 would be mortgage interest and property taxes as itemized deductions. The mortgage interest would only be allowed if you intended to use the house for personal purposes in addition to or in place of renting it out though.  Improvements you can add to the cost basis of the property for depreciation purposes in the year you start renting it out.