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Updated almost 10 years ago,

User Stats

118
Posts
25
Votes
Frank M.
  • Commercial Real Estate Agent
  • Sudbury, MA
25
Votes |
118
Posts

Expenses before "in-service" date?

Frank M.
  • Commercial Real Estate Agent
  • Sudbury, MA
Posted

I bought my fixer-upper last March, and it took until November before it was ready to show, i.e. place "in service."

I asked prior, if the insurance had to be capitalized or if it was an expense, and @StevenHamiltonII was kind enough to respond, expense. 

Now that I'm hacking away at the tax form, I am wondering if anything else can be expenses prior to 'in service' date. I'm looking at the Real Estate taxes and Utilities, to be specific, but if I'm missing anything else, I'm happy to know. 

I've sifted through Pub 527, with little success. It's pretty clear that depreciation starts after the building is placed in service, but I don't find where it separates out what else can be taken prior. (Thanks) 

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