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Investors & landlords
Until it is actually AVAILABLE for rent (advertised and renters can move in on that date), it is NOT a rental property. There are no losses until that happens (as Kris said, the remodeling cost is added to Basis).
So if it is not rented and your family member moves it, it was never a rental.
So if it is not rented and your family member moves it, it was never a rental.
‎June 3, 2019
1:39 PM