Closing in Jan 2016, rehab expenses in Dec 2015

[Kevin Kroll]

I'm in a bit of a unique situation that I'm sure others have been in, but is new to me:

I am under contract to close on a new rental property in early January 2016. The terms of my purchase contract stipulate that I am allowed access and permission to repaint the interior, as well as install a tile backsplash in the kitchen prior to close. 

This work, along with granite countertop installation (paid for by seller allowance) will be performed in December 2015.

Can I wait to itemize the improvement costs on my 2016 returns even though the receipts will be dated 2015?