Can I deduct or take losses if I just bought a property?

[Dom Radcliffe]

Here's my situation;

I acquired a property and I am making repairs to it to bring it up to a certain standard before I list it on STR websites. It seems like the repairs will take some time so I won't be able to list it until at the end of December or in January '23. Can I deduct those expenses when I file for 2023 taxes (after listing the property in service) even when the expenses were incurred in 2022?

[Dom Radcliffe]

@Ned Carey - Thanks very much for clarifying this, Ned. I appreciate it.