- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
Can you clarify - you have a rental property on your tax return that you placed in service in 2014? And you purchased a separate depreciable asset for that property in Oct of 2022??
The placed-in-service date is the date the asset is ready and available for rent. If the asset is not available for rent until May of 2023, that is the placed-in-service date
Tax Tips - Keep Flawless Records of Rental Periods
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 16, 2023
8:42 PM