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Updated almost 11 years ago on . Most recent reply
Insurance deductible before 'in service' date?
I'm sifting through Publication 527 and I understand that the cost of rehab is all capitalized, even those things that would otherwise be expensed between tenants or during tenancy, such as painting or regular repairs.
Is insurance in the same situation? I paid for insurance, a year in advance, taking effect on the closing date. I'm not clear if this can be expensed, capitalized, or some combination based on the date the house is placed 'in service.'