Hello -
I have a rental property, say I rented this out till March 10, 2021. Then I sold the property in 2021 but because it takes some time to prep the property for sale, say the date of sale (closing date) was May 10, 2021.
In turbotax when I follow the prompts for sale of rental property, there is only one field for:
Date you sold / retired from use:
Whereas for me the date I sold (May 10, 2021) is different from the date I retired from use (March 11, 2021).
If I put the May 10, 2021 date then the date sold in form 4797 is correct but the rental property depreciation. is calculated till May 10, 2021 which is false, it should be calculated till March 10, 2021.
If I put the March 11, 2021 date then the date sold in form 4797 is wrong, but the rental property depreciation would be correct for the days in use for rent.
How can I put the correct dates for until when the property was rented vs the date the property was sold, so that all forms are correct?
