The renovations were not completed until 2022 at which time they would be placed in service if the property was still available for rent. Depreciation does not begin until an asset is placed in service. That must be decided on by the owner (not the case for @37Chief since they decided to sell in 2021).
In this situation the capital improvements could be added to the sales expenses so that the proper gain is reflected on the sale as it is reported and entered into the asset section of the rental activity.
@DiddlyD
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