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Question

Adding hardwood floor refinishing to cost basis?

Forum|Forum|3 years ago
February 17, 2023
1 reply
0 views

I converted my home into a rental on 4/28/2022. In preparation, I refinished my existing hardwood floors in November 2021. Can I add that to my house's cost basis, i.e., is it considered improvement? Thanks.

That would be considered as a "Repair". You can claim that as an expense in 2022.

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Doesn't Pub 957 say we can only claim expenses incurred after in-service date?

Pre-rental expenses.

You can deduct your ordinary and necessary expenses for managing, conserving, or maintaining rental property from the time you make it available for rent.