Taxes deuction, capital gains etcI just bought a property as is a month ago. Some repairs were necessary for the property to be rented. New flat roof ( the other one had less than a year expectancy), new a/c, new water heater, ( those were missing in the house). I bought some new appliances sinces there were missing too, the pool needs to be rescreened, and the bathroom are going to be remodeled. How does it work with the taxes since the property will be rented next month? Can i do any deduction of my expenses, or can i depreciate or everything is consideredcas capital work gain? Thank youSeptember 23 2011 - Tampa00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.