Rental property repairs deductible on Owner Occupied Rehab?

[Kory Denny]

Hello Bp Community,

I have a few questions maybe someone has an answer for. Disclaimer - I will seek a CPA for myself. 

Here is the important things to consider. 

1) I purchased a property early this year that will be my first rental property more than likely as a long term hold. This is an owner occupied live in rehab.

2) There are about 8-9k worth of repairs I will complete before March/ April of next year (2018)

I then plan to rent the property by July/ Aug

3) Improvements include - New Hvac unit, New roof, new floors, new paint

Would I be able to write off those repairs for repair expenses incurred during 2017? Or would it make more since to wait in Jan of 2018 since the property will actually be rented in 2018?

Thank for taking time to consider my post. 

[Wayne Brooks]

Nope, you can't write them off, for 2017 Or 2018.  Any repairs/improvements made before the unit is ready/available for rent simply gets added to your basis, and depreciated accordingly.