Property is not in rented yet- major rehab

[Monika Sharpe]

Hello,

I have been looking a lot regarding the expense for the rehab and how to include them on tax return. We inherited property in FL in 2024 (no mortgage). We paid past due property taxes ¤t property tax. We don't itemize. We paid all utilities each month as the property was in terrible condition. My husband flew 3times during a year there and started working in rehabs (looked for contractors, talked to lawyers, etc. etc). Property is almost ready to rent- estimated date 4/15 or 5/1/2025.

I understand that the expenses for materials, labor and rehab will go under my cost basis once the property is rented out. 

However, can I deduct the property taxes (around 3K), utilities (around 2K), flights &car rental this year?

Thank you!