Do all expenses need to be capiltaized before "placed in service"
I have a rental I purchased in September 2017. It needed substantial rehab and it will be ready for rent later this month. My understanding is that all expenses and improvements must be added to the basis. I understand the big items and improvements would need to be but things like the water and sewer bill and electric bill? Would I just need to add up all expenses no matter what they are for and add them to the basis? I also understand the taxes can be written off on Schedule A, but if I won't itemize for 2017 tax year can I also add those to the cost basis as well so that I can get the deduction later on through depreciation? Any insight would be much appreciated! Thanks!