A multi-year rental property was sold in 2021. Just before it was sold, I installed new carpet, which was less than $2,000. In filing tax, how do I do with the new carpet?
(1) Can it be deducted as expense?
(2) If it was seen as improvement, does the carpet needed to be depreciated but it had been only one or two months before the rental property was sold?
(3) In TurboTax, where is the carpet entered (procedures)?
Thank you very much for any of your advice.
