Hello @PatriciaV and/or @Carl ,
To confirm, as an example, my renters moved out April 15, 2024. I then in paid $15,000 in new carpeting, completely repainted, new countertops, etc. I never put it back up for rent, and it has been for sale since. As of February 1, 2025 it still has not sold. Are you saying I hold on to these expenses until my 2025 tax season and include it with any capital gains? Or do I put it on the 2024 returns? It was no longer a rental property therefore I would not want to take depreciation on it. Thank you in advance.
