- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@chuckjim wrote:
Thank you. We rented our home in question for short term rentals last year so we need to establish a basis for depreciation.
You rented it only in 2024, before selling in 2024? I think you can ignore depreciation, don't claim it on your rental income and don't report it as recapture on the sale. If the only depreciation is in the year of the sale, I think it cancels itself out, although I could be wrong.
‎December 22, 2024
6:19 PM