Thanks Carol. Could you answer the follow up questions listed below:
I didn’t convert the property for a personal use, it was vacant while it was listed for sale. The property was a rental until Oct 2022. Tenants were evicted in Oct 2022 and the property was listed for sale in mid Nov. May I expense property tax, insurance, depreciation, utilities and mortgage interest for full year of 2022?
The remodeling that was done on the property because of my tenant damaged the property so would this considered an expense for 2022? If it not an expense, may I depreciate the remodeling cost for the time period between remodeling was completed until the rest of the 2022?
