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Updated almost 2 years ago, 02/13/2023
Converting Primary Residence to Investment Property
I converted a property from a primary residence to a rental located in California in 2022. The date of conversion is 5/29/22 which reflects the first day it was advertised online for rent. After listing for rent, I started work on capital work items such as new exterior paint, replacement shower door, and replacement carpet so I can claim it on my 2022 Tax Return. In addition, I am claiming all typical rental expenses such mortgage, taxes, insurance, maintenance, etc. My understanding is that after I list the property for rent its fair game to claim all capital items and expenses. Is there any thing I am missing?