This has come up because I had a rental property (single family residential condo) that was sold in 2022. The last tenant moved out on 08/31/2022 and the sale was closed on 11/21/2022. During that time the property was vacant, I did NOT use it for personal reasons.
Turbo Tax asks when the property was out of service or sold, as if they are the same. If I put in 08/31/22 then it lists the sale date as 08/31/22 on Form 4979, which is not correct. It acts as if I cannot have two different dates for out of service and sold.
So my question is technically is it out of service on 11/21/2022? Is that the proper thing to do as far as the IRS is concerned.
Thanks in advance. I'm using TT Deluxe.
