I bought an investment property last calendar year and put lots of improvements into it. It did not rent until this year. Can I still claim the deductions for last year in last years tax return?

[candycanepanda]

I put improvements into a rental property in 2021.

More improvements continued into 2022 and the property rented in 2022.

I want to cliam the improvements and deducations done in 2021 on my 2021 tax return.

I want to make sure that this is acceptable.

Thanks! 

[Critter-3]

Not acceptable ... all of the improvements will be added to the cost basis for depreciation of the assets.  Carrying costs until the rental is rentable are also capitalized and depreciated.   The only thing you can deduct on the 2021 return is the RE taxes  if you itemize deductions.  

Read up on the Sch E rules  here : https://www.irs.gov/forms-pubs/about-publication-527