@amyonghwee wrote:
and prorate the property taxes accordingly to duration ?
You will report the rental as being available in July of 2023 in the Rental Properties and Royalties section of the program.
Depreciation will begin as of the date you placed the property in service as a rental.
Using the program, there is a method to have the allocations done for you but, frankly, you are better off doing the calculations manually and entering those figures into the program.
Note that there are certain expenses that you would not prorate, such as advertising, commissions, repairs when the property is available for rent, and any other expenses that are exclusive to rental use.
