DawnC
Expert Alumni

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

 

Seasonal Rental discussion  

 

Short Term Rentals

 

Tax Tips - Keep Flawless Records of Rental Periods

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