TomK2023
Expert Alumni

Investors & landlords

Yes, rented every day.

 

"You place property in service in a rental activity when it is ready and available for a specific use in that activity. Even if you aren’t using the property, it is in service when it is ready and available for its specific use."

 

IRS Pub. 527 - Residential Rental Property (pg. 9)

 

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