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Get your taxes done using TurboTax
If the property was rented in 2021 and will be rented again in 2023 after the renovations have been completed Then you can continue to use the schedule E to report all the Holding expenses however the improvements/renovations must be added as an asset and depreciated over 27 1/2 years. In the TurboTax program simply say the property was rented for one day so you can keep the schedule E active.
‎December 26, 2022
1:42 PM
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