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Deductions & credits
you asked...Was it a current rental on schedule E when you sold the home or previously a rental? I lived in the house from 2006 to 2010. In 2010 I converted it to a rental until 2019. For 2020 tax return I took it out of service on 1/1/2020. It sat vacant all of 2020 and part of 2021 until i sold it in March 2021.
Also, can i add allowable closing costs to my cost basis for both when I purchased the home as well as when I sold it?
March 11, 2022
1:18 PM