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First rental property - When does depreciation start?
Bought my first rental in Oct 2016. Spent a few months renovating, and will be renting starting this month (March 2017).
I wasn't planning on including anything rental related on my 2016 taxes, since there hasn't been any income. Come 2017, of course there will be income, expenses, etc.
Am I missing anything? Should I be capturing any reno expenses that will be carried-over to 2017? Or will that all be handled in my 2017 taxes on Schedule E?
Thanks in advance. Want to make sure I'm not causing myself any headaches for next year.
-Mike


