If the maintenance and prep work is done before the "in service date" of the rental, can those be written off under "safe harbor for small taxpayers"?, this is the exact scenario: first time converted residence to a rental unit in year 2022. Repair, maitainance work was done between 06/05/2022 to 06/15/2022 and the property got placed in service from 06/20/2022, i.e. it was advertised from 06/20/2022. Since the repairs were done before "in service" date, can I still write them off using safe harbor for small tax payers since they occurred in 2022?
Quick adjustment of your scenario: single family rental home, replace AC only (not entire HVAC) because it breaks while tenants are living there, does not qualify for di minimis or small taxpayer. $4k expense on $100k property. Does it have to be capitalized?
