Minimizing Capital Gains Tax After Investing in Rental Property

[Kevin Gates]

I have rental property and have put in $4,000 of improvements (i.e, new garage door, new carpet) while the house was tenant occupied this year. Now the tenant moved out and the property is vacant. I discovered the roof needs to be replaced for $10,000 this year. I plan to sell the house next year. Can I deduct the $4,000 and $10,000 when I have to pay capital gains after the property is sold?