Start-up Deductions vs. Capitalized
So I'm about to close my first investment duplex on 5/31/22 in Indiana. It currently has tenants which will be staying. From what I've read, costs from before I have started my first rental are considered startup costs for tax purposes and they can only run to $5000. I want to buy a set of power tools to work on the house and write them off as a business expense. If I buy them before (but same month) I have closed on the house but are using them to work on the house after I bought them, are they deducted vs. capitalized as a start-up costs vs. regular cost. Thank you for the help in advance!