Thank you that’s a great point. We do not know if the closing will happen shortly in 2023 or in 2024. The buyer is extremely interested and is pushing for a 2023 closing. It may help to push it to 2024 to help with this.
However I doubt we will be able to recoup the back rent from the tenants in 2024 alone though, so I’m thinking we’ll have to deal with this scenario in 2025 also.
Regardless of when this sale happens, the back rent will still be paid to me after the sale of the condo. How does TurboTax deal with this? I am sure it will ask for the date of sale, but it won’t ask the dates that I received the back rent in 2024 so if all transactions are done in 2024 then it may not matter. But if I still receive back rent payment in 2025 it may be an issue?
