I had residential rental property. Lease terminated end of February. Did not list for rent, instead listed for sale. Closed on the sale end of April.
I have recalculated the Turbo Tax depreciation calculation and it is using the sale date. (i.e. Sold end of April and the amount recalculates as 3.5 months for a 27.5 year life and a mid month convention).
It is my understanding that I can only depreciate the property through the end of the lease term (February). So the depreciation expense should be for 1.5 months for a 27.5 year life and a mid month convention. Is that correct? If yes, how do I fix this in turbo tax?
