TT windows premium. My mother used to live in the house, I inherited after she passed away, I rented out a part (~ 20% of the house) of the house and the rest of the house was vacant. I sold the house.
In 2020 and 2021, I have a rental income and report by sked E (without setting up the rental business). In 2021, sold the house and report the long term capital gain. Should I set up the business when I rent out a part of the house ? —- not sure?
It seems ok calculating thr deprecation in 2020, 2021. But it does not recapture the depreciations in 2020, 2021 when calculcating the capital gain.
