Getting primary residence ready 4 rent - tax deductible expenses?

[Nathan Sharp]

My wife and I have lived in our primary residence for four years. In the next 8-12 months or so we plan to be moved into a different home and have this one rented out. We plan to sell it after 2-3 years of renting it out to take advantage of the zero capital gains tax on a primary residence. Currently we are doing a bunch of renovations to get the home ready for rent. 

My question is, how much of what I am spending on renovations in 2019 can be used against the taxes on the rental income I make in the coming years?

[Daniel Hyman]

@Nathan Sharp

Speak to your tax pro about having the renovation costs added to your basis for depreciation purposes.