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Confused about a rental property with large repair expenses that was sold in the same year
I'm having a difficult time figuring out what to put and where.
I had a house that I was renting to someone at the start of 2022 (the house was converted to a rental in late 2021). While the house was being rented in 2022, I had to replace the sewer line which cost about $36k all said.
The renter ended up moving out and I sold the house in 2022 as well.
So, I'm trying to figure out how to report all of this. Depending on what I put where, my refund varies between $600 and $5000. Obviously, I would love the biggest refund, but I also don't want to report incorrectly.
Anyone have an answer?
Topics:
‎July 14, 2023
6:23 PM