Taxes on cash flow

[Alex Bernth]

Hello everyone, I hope y’all are doing well. So since rental cash flow/income is taxed by the IRS, would I be able to use my renovations cost as a tax deduction? Therefore it’s seen as a loss similar to if a property depreciates in value each year.

Example: Renovations cost -20k & annual cash flow is +5k

Hopefully I worded this correctly, thanks

-Alex