of1
Level 2

How to report an improvement of rental property that occurred in the same year the rental property was sold.

  1. Rental property was purchased 2022
  2. Rental was improved in June 2024 (while tenant was still living in the property)
  3. Rental was sold in December 2024
  4. Rental property was always rented (never used for personal use)

 

   How to report the improvements : Selling expenses ?  Deprecated asset ? Repairs ?

   There is a complete inconsistency with  responses to similar questions in the community and it’s extremely frustrating.

    I’m using TT ONLINE and would like a step by step (screens included please) on how to properly report it.