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Deductions & credits
Great - thank you for the previous post as it was similar to my situation in terms of MV at the 3 time periods in question (purchase, conversion to rental, and sale).
I also reviewed my return in 2016 to see where the cost basis information was coming from in when I converted to a rental. My business % was less than 100% in that first year because I started renting it in March. A follow up question would be since that time, it was always a rental. Can I use 100% business percentage and change what pulled through from my first year?
March 2, 2023
12:01 PM