I converted a planned flip to a rental late 2014, tax consequenses?

[Mike B.]

Hi All,

First off, I will consult my tax professional before doing anything.  I am looking for the 10,000 foot summary to get my mind around what I will be looking at when its time to tackle this.

I bought a fix and flip home in 2013.  Renovated, tried to sell, then decided to rent it late 2014.  It officially went on the rental market December 1, and was rented immediately with the tenant paying partial month for december.

I believe from the rental income/depreciation/expenses standpoint that starts as of December 1?

What is done from a tax perspective from Jan 1 - Nov 31, 2014, if anything?

- I incurred significant renovation and holding costs through that period.

Is this considered "converting" a home to rental (as of 12/1/14)?

Thanks for any input!