Claim depreciation this year or wait until next?
I just closed on a single family that I will offer for rent once I get done painting and doing some small repairs. It will probably take me a couple weeks. If I’m unable to get a tenant moved in before the end of the year, do I still claim depreciation on this house? It was purchased as an investment property (i.e., all the mortgage paperwork describes it as such).
Second question: if it doesn’t rent until next year, do I still get to deduct cash spent on repairs, etc?
Thank you!