claiming property expense for empty house ( not renting yet)

[Jun Wang]

hello everybody, 

got a tax question that is bugging me. 

bought a rental house on 10/10/2021 last year. I staying in it while managing some renovation until 1/2022. got it to rent out on 2/2022. 

sent all the expenses for the year of 2021( mortgage interest, property tax, property insurance, renovation cost for material and labor, etc) to the accountant. he said since the house was not ready for rent, I cannot claim expenses on it for the year 2021. 

he mentioned I did not lose them, but instead, he capitalized on the holding cost/renovation. I sent him an email asking the question but just can't sleep tonight until I know what that means exactly. 

thanks everybody.