Tenant moved 11/6/18. Interior paint & repairs $6,400, hardwood floors & carpet $5,200. Can I expense $6400 2018? Sold in 2019. Should I depreciate or expense all in 2019

[mattbkwon]

When I depreciate hardwood floors and carpet in 2018, I am only allowed a small portion. Can I offset the gains I made by selling with the remaining cost from 2018?

[mattbkwon]

Cost of Property plus expenses of sale: Can I add the cost of hardwood floors here or the remainder of cost from depreciation in 2018?

[AlanT]

To answer your question, yes, when you sell the property,  in your tax return for 2019, the cost will include what you are trying to depreciate right now.
However, if you were bringing the property to the original state, i.e. repairing floors and carpet,  to re-rent, you could expense it all in 2018.  Otherwise, you must add the expenses to your basis and reduce the gain in 2019.  
If you were repairing the property, and the property was not avaible or intended to be rented, you must add it to basis.

[AlanT · Accepted solution]

Expenses must be deducted in the year they are paid.   So if you paid for the expenses in 2018, you must deduct (expense) them in 2018.  If they were paid this year, you would deduct (expense) them in 2019.  

[mattbkwon]

When I depreciate hardwood floors and carpet in 2018, I am only allowed a small portion. Can I offset the gains I made by selling with the remaining cost from 2018?